XM Satellite Radio Extends Loss In Q2 With Launch Looming

Staff On Aug 20 2001 - 6:00am

With its commercial launch set for late summer, XM Satellite Radio extended both its consolidated operating loss and consolidated net loss for the second quarter ended June 30.

The company — which will offer up to 100 channels of digital-quality sound in providing coast-to-coast coverage of music, news, sports and talk programming — said its operating loss for the second quarter was $42.1 million, compared with $13.9 million in the year-ago three months. Net loss was $38.5 million, compared with $5.1 million in the second quarter of 2000.

For the six months, XM Satellite Radio reported an operating loss of $84.2 million, compared with $30.8 million in the same period last year. The company's net loss for the first half was extended to $75.4 million, up from $17.8 million in the year-ago period.

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