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SATELLITE TODAY :: DAILY NEWS FEED
August 7, 2008
[Satellite Today 08-07-08] Sirius XM Radio released Sirius’ standalone second quarter results showing total revenue increasing to $283 million, up 25 percent from the previous year, the company announced Aug. 7.
Sirius cut its net loss to $83.9 million in the second quarter, down from a loss of $134.1 million in the 2007 second quarter. The improvement in adjusted loss from operations primarily was driven by revenue growth and improvement in subscriber acquisition costs.
Sirius and XM closed their merger in July. "The combined company now has an annualized revenue run-rate of over $2.4 billion,” Mel Karmazin, CEO of Sirius XM, said in a statement. “We expect to realize $400 million in synergies next year and see this figure growing substantially beyond 2009."
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