Having already announced that it’s now signed up 9.7 million subscribers, XM Satellite Radio has announced its full second-quarter financials, revealing revenues of $318 million – up 15% from the same quarter last year. The company’s net loss was $120 million for the quarter, down from a loss of $176 million in Q2 last year. Some of the cost savings come from spending less on subscriber acquisition, but XM is holding onto more customers too, reducing its churn level. Now it just has to wait and see if it gets FCC approval for its merger with rival Sirius.

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