Sirius Posts Record Quarterly Revenues

Sirius Satellite Radio reported record revenues during the first quarter. For the three month period ending March 31st, revenues improved 61 percent to $204 million, though losses remained.

For the quarter, net losses totaled $144.7 million, substantially less than a $458.5 million dive recorded during the year-ago quarter. Sirius also acquired 556,490 new customers during the period, bringing their total to 6.6 million.

The subscriber aquisition rate is actually leveling off a bit. During the comparable quarter last year, the company added 761,187, landing at just over 4 million.

Author: FutureMusic

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