XM Satellite Radio Loss Widens

XM Satellite Radio (XMSR Quote) traded higher Monday despite reporting first-quarter results that came up shy of Wall Street's expectations.

The Washington, D.C.-based satellite-radio operator reported a loss of $129.3 million, or 42 cents a share, in the first quarter, widening from a year-ago loss of $122.4 million, or 40 cents a share. Total revenue rose to $308 million, up 17% from the same quarter a year earlier.

Analysts were expecting a loss of 39 cents a share on revenue of $313 million, according to Thomson Reuters. Still, the stock was higher by 30 cents, or 2.5%, at $12.10 in early trading. ...