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Monday, November 06, 2006

XM Satellite Radio Up After Earnings

XM Satellite radio (XMSR) is trading up 12% out of the chute and is now just over $13.00 after posting a narrower than expected loss for the quarter. The company posted -$0.32 EPS versus -$0.46 estimates and revenues were $240.4 million versus $235 million. The company did actually reel in its subscriber range from a 7.7 to 8.2 million total subscribers by year-end down to a 7.7 to 7.9 million range. The silver lining was a narrower loss projection of $205 to $215 million instead of a $264 million expected. It ended the quarter with a 7.185 million subscriber headcount, and cost per new subscriber climbed from roughly $53.00 to about $60.00.

Sirius (SIRI) is trading up 2.5% at $3.84 on the day.

Jon C. Ogg
November 6, 2006

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