XM Satellite Radio Loss Widens, Sales Surge

XM Satellite Radio Holdings Inc., the largest U.S. pay-radio company, said its quarterly loss widened as it boosted spending on programs and marketing. Sales surged as it lured 65% more subscribers than a year earlier.

The fourth-quarter net loss was $188.2 million, or 93 cents a share, compared with a loss of $162.9 million, or $1.12, a year earlier, Washington, D.C.-based XM said. Revenue more than doubled to $83.1 million, helped by holiday sales.

XM Satellite shares rose 50 cents to $31.90 on Nasdaq.