XM Satellite Radio Holdings Inc. (XMSR) announced that it added 322,000 new net subscribers in the second quarter of 2008 for a total of 9,653,000 subscribers, up 17% in subscribers since the end of the second quarter of 2007. The company said that quarterly churn improved to 1.67%, compared to second quarter 2007 churn of 1.84%.
XM Satellite stated that it expects second quarter adjusted operating loss to be in the range of $32 million - $38 million, excluding the impact of any FCC settlement. The company expects subscription revenue for second quarter to be in the range of $283 million - $288 million.
Conversion rate for promotional subscribers is expected to be in the range of 52.7% - 53.4%.
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