Sirius Satellite's Revenue Falls Just Short

Among key metrics watched closely by analysts, average revenue per subscriber fell to $10.42 from $10.46 in the year-ago quarter. At the same time, monthly churn, which measures the number of subscribers who quit the service, grew to 2.7% from 2.3% in the first quarter of 2007.

On the positive side, subscriber acquisition costs shrank 10% to $91 from $101 last year.

Earlier Monday, XM reported first-quarter results that came up shy of expectations. XM was lately down 26 cents, or 2.1%, to $12.04.