Sirius Topped XM Subscriber Growth But Wall St. Punished Both

Sirius topped XM in subscriber growth for the 3rd quarter of this year gaining 441,101 net new listeners for a total of 5.1 million.  Their target for the end of the year is 6.3 million. 

Meanwhile XM gained 285,000 net new subscribers for a total of 7.7 million with 8.2 million promised by year’s end.

Both took a beating on Wall Street amid rising concerns that the rapid subscriber growth needed to reach profitability would continue. XM dropped 62 cents or 4.9% to $11.96 in heavy trading yesterday while Sirius’ shares fell 13 cents or 3.2% to $3.94.