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Sirius XM Q3 Loss Narrows

Sirius XM’s loss in the third quarter narrowed compared with the same quarter last year.

Excluding items, net loss was $181.9 million, compared to a loss of $217 million in Q3 last year, the company reported.

The results bettered analyst predictions, according to RTT News.

Total revenue increased 27% in the third quarter, to $618.66 million, up from $488.44 million in the same quarter last year.

Total subscribers were down 2% from last year, to 18.52, but self-pay subscribers were up 1%, to 15.46 million, from last year.

The company expects cash flow growth momentum to continue into 2010, and full-year adjusted income from operations to increase approximately 20% next year. Based upon assumed 2010 automobile sales of 11.3 million units, Sirius XM also expects to achieve positive full-year subscriber growth in 2010, says CEO Mel Karmazin. The company also expects 2010 revenue growth of mid- to high-single digits, and growth in free cash flow compared to 2009.

Year-to-date, total revenue increased from $1.04 billion in the year-ago period to $1.8 billion.