According to a story on adage.com, Sirius subscription radio revenues from all sources have risen to $52.2 million for the current quarter, a 295% increase over the $13.2 million reported for the year-ago quarter. In addition, ad revenues doubled to $1 million for the most recent quarter, says Sirius CEO Mel Karmazin.
Unfortunately, losses widened to 13 cents per share, or $177.5 million, from 11 cents a year ($136.8 million) earlier.
CEO Karmazin predicts profits as early as the fourth quarter of 2006 for the fledging venture, which some Wall Street analysts have compared to the early days of cable.