XM Continues To Bleed

“XM finished the quarter with 8.5 million subscribers, compared with 7.2 million at the same point last year. … But a 22 percent drop in sales through retail channels deepened the company’s loss. XM also lost money in the quarter because of merger-related costs and severance pay to its former chief executive, Hugh Panero. The company, which has never earned a profit, also struggled to keep customers. … XM added 315,000 net subscribers, compared with 286,000 in the third quarter last year, the first year-over-year customer growth in more than a year.”

Source: Washington Post

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