Sirius Satellite Radio, which provides multi-channel service to US car owners, has reported a wider fourth-quarter loss though its subscriber base grew 74%, according to the Reuters news agency.
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Sirius, operator of the second-largest satellite radio service in the States, reportedly posted a net loss of $US147.8 million, or 14 cents a share, compared with a loss of $134.1 million, or $1.74 a share, a year earlier.
Analysts’ average forecast was a loss of 11 cents a share, according to Reuters Research, a unit of Reuters Group Plc.
Sirius reportedly said it added 111,449 subscribers in the quarter, bringing its subscriber base to 261,061 – customers pay $12 a month for commercial-free music, news, talk and sports stations.
Reuters said Sirius ended the fourth quarter with $550 million in cash and cash equivalents, recently signed deals to put its radios in trucks leased by Penske, and already has agreements with Ford, DaimlerChrysler and Nissan to offer Sirius radios as an option in new cars.
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