The New York-based satellite radio broadcaster lost $145 million, or a dime a share, for the quarter ended March 31, compared with the year-ago loss of $459 million, or 33 cents a share. Excluding stock-based pay costs, losses narrowed to 8 cents a share from 13 cents a year ago.
Revenue rose 61% from a year ago to $204 million, in line with the company's 61% gain in quarter-end subscribers to 6.58 million.
Analysts surveyed by Thomson Financial were looking for an 11-cent-per-share loss on revenue of $212 million.
The news comes as the company tries to sell regulators and legislators in Washington on is proposed merger with rival
. Shares of both companies have been under pressure in recent weeks as skepticism about the deal's prospects rises on Wall Street.
During first quarter of 2007, Sirius added 556,490 net subscribers, consisting of 192,978 from the retail channel and 364,674 from automotive partners. Advertising revenue was $6.7 million in the latest quarter, and average monthly revenue per subscriber was $10.46. Average monthly subscriber churn was 2.3%, and was consistent with previously provided 2007 churn guidance. SAC per gross subscriber addition was $104.
Sirius said it expects to end the year with more than 8 million users and to post full-year revenue "approaching $1 billion."