XM Satellite Radio
said on Monday that its subscriber growth continues to exceed estimates, due mainly to retail sales in large electronics stores.
The company said it ended the second quarter with more than 136,500 total subscribers, above Wall Street's projections. The company added 60,000 new subscribers in the quarter, with most coming from stores like
XM said its subscriber growth going forward remains on track, and the company expects to end the year with about 350,000 paid subscribers.
The company also announced that
is expanding factory installation of the service into 23 additional models in the 2003 model year. Previously, XM Radio was available only in the Cadillac DeVille and Seville.
Shares of XM closed at $7.25 Friday before the news.