XM Satellite Beats Customer Forecast
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Bloomberg News
XM Satellite Radio Holdings Inc. more than doubled its customers to 76,000 in the first quarter, exceeding its forecast by 6,000 subscribers. The company said it added more than 48,000 customers in the period ended Sunday.
XM, whose $10 monthly service has 100 channels with fewer commercials than standard radio, said it is on target to have 350,000 customers by year’s end.
XM shares fell 67 cents to $13.10 on Nasdaq.
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