XM lowers loss
March 3, 2008
Like its putative partner XM Satellite Radio said that it narrowed its fourth-quarter loss, helped by a 20 per cent increase in revenue. XM reported a loss of $239 million compared with a loss of $263 million in the comparable quarter a year ago.
Fourth-quarter results in 2006 were reduced by a one-time charge of $57.6 million to reflect the declining value of XM's stake in Canadian Satellite Radio. XM's revenue rose to $307.7 million from $257.1 million.