Media
XM Satellite Earnings Less Monitored Than Merger Hopes (XMSR, SIRI)
Published:
XM Satellite Radio just posted earnings of a net loss of $239 million on a 20% rise in revenues to $308 million. The net loss on an EPS basis was -$0.78 EPS, but that included $0.25 for certain merger and settlement related charges. If we back that out we would get a -$0.53 EPS. First Call was looking for -$0.63 EPS on $303.1 million in revenues, so this was a narrower loss on slightly better revenues.
XM Surpassed 9 Million total subscribers in 2007 and XM-equipped new car production rose 64% in 2007. 1.4 million of the total net subscriber adds came in the quarter out of the 3.5 million adds for 2007.
As a reminder, Sirius Satellite Radio (NASDAQ: SIRI) said it would provide guidance "after it secures merger approval" earlier this week.
XMSR shares are up almost 1.5% at $12.62 in early pre-market trading, and the 52-week trading range is $9.62 to $16.44. This one looks like it too is not trading on its earnings. All eyes are looking for merger approval news.
Jon C. Ogg
February 28, 2008
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