A $4.8 billion charge due to a drop in the company’s share price caused the one and only satellite radio company to lose $4.8 billion last quarter. Even without the charge, the company would have lost $217 million — a burn rate of about $70 million per month. CEO Mel Karmazin was upbeat:

“Sirius XM third-quarter results demonstrate strong revenue growth, solid cost control and most importantly a clear path to positive cash flow.”

So Mel says the path is clear, but somehow I doubt Sirius XM will be cashflow-positive anytime soon.

[Yahoo Finance] Sirius XM Radio posts $4.88B loss after charge