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XM Nearly Doubles Subs In Q2

By Jeff Malester -- TWICE, 8/5/2002

WASHINGTON — XM Satellite Radio Holdings nearly doubled its number of subscribers in the second quarter, adding 60,476 — a 79 percent subscriber growth, compared with the first quarter of 2002. The company now totals 136,718 subscribers.

XM reported consolidated revenue of $3.8 million in the second quarter and $5.6 million for the six months, compared to no consolidated revenue in the second quarter of 2001 and in the six months.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in the second quarter, ended June 30, climbed to a loss of $79.3 million, up from a loss of $36.1 million in the year-ago period. Net loss reached $117.2 million in the second quarter, compared with a loss of $38.5 million in the same three months last year.

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