XM Radio Lauds Q2 Results

  • July 1, 2002
XM Satellite Radio ended the second quarter with more than 136,500 total subscribers -- most from retail sales -- exceeding most Wall Street projections. XM's retail distribution rolling is expected to get a boost from Detroit as General Motors is expanding factory installation of XM from the Cadillac DeVille and Seville to 23 additional GM models in the 2003 model year. Exceeding most Wall Street expectations for the third consecutive quarter, XM announced a net gain of over 60,000 subscribers for the quarter, most from retail sales at Circuit City, Best Buy, Tweeter, and Radio Shack and other retailers nationwide. XM remains on track to end the year with an anticipated 350,000 subscribers.
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