Sirius Grows, Reports Wider Loss

Sirius Satellite Radio may be turning the corner on subscriber growth, but the company is still struggling to make money and reported a wider quarterly loss Tuesday. Sirius also adjusted its subscriber guidance upwards, reflecting strong consumer demand for satellite radio services and momentum thanks to deals with its retail and automotive partners.

The company finished the quarter with 1,814,626 subscribers, an increase of 365,931 subscribers. Sirius now expects to have 3 million subscribers by years end, up from the 2.7 million previously forecasted. Net loss widened to $177.5 million, up from $136.8 million a year ago, however was down from last quarter's $193 million loss. Sirius also showed improvement in the cost to acquire subscribers: $160 versus $234 a year ago and $190 last quarter.