Just days after its top competitor announced its own financial losses,
Sirius Satellite Radio posted a 6 percent drop in its shares for the last
quarter of 2005.
On Friday, Feb. 17, Sirius released its financial results, which
included a net loss of $311.4 million, or $0.23 per share, for the fourth
quarter of 2005, and a net loss of $863 million, or $0.65 per share, for the
Although it posted a loss, the figures could just be growing pains for
a company with a growing subscriber base and top-shelf celebrity roster,
including shock jock Howard Stern. According to a press release, Sirius
ended 2005 with 3,316,560 subscribers, reflecting a 190 percent increase in
total subscribers for the year. Revenue for all of 2005 grew to $242.2 million,
up 262 percent from $66.9 million in 2004.
Sirius’ disappointing financials arrived just two days after a similar
announcement from its only rival in the U.S. market, XM Satellite Radio.
According to a press release, XM posted an 8 percent drop in its share price,
dropping the price of each share to $1.22.