Sirius Loses Less Than Last Year As Revenue Grows

AP:

Broadcaster Sirius Satellite Radio Inc. on Tuesday said its net loss fell substantially in the second quarter, as it added more than a half-million new subscribers and revenue grew by about 50 percent.

New York-based Sirius reported a net loss of $134.1 million, or 9 cents per share, compared with a loss of $237.8 million, or 17 cents per share, a year earlier. On an adjusted basis, excluding stock-based compensation costs, Sirius lost 8 cents per share in the period. Revenue rose to $226.4 million from $150.1 million a year earlier.

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