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Napster narrows loss in 4Q; revenue up 6 percent
posted 5:04 pm Wed May 21, 2008 - LOS ANGELES
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Online music retailer Napster Inc. says its fiscal fourth-quarter loss narrowed by nearly 50 percent, beating Wall Street estimates.Napster said Wednesday it posted a loss of $4.3 million, or 10 cents per share, in the three months ended March 31. That compares with a loss of $8.5 million, or 20 cents per share, in the year-ago quarter. Revenue rose 6 percent to $30.8 million from $29.1 million.
Analysts polled by Thomson Financial expected a loss of 13 cents per share on $30.7 million in revenue.
Napster says it ended the quarter with about 760,000 paid subscribers.
Napster forecast first-quarter revenue will range between $30 million and $31 million, with earnings per share to be relatively flat.
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On the Net:
Napster Inc.: http://www.napster.com
Analysts polled by Thomson Financial expected a loss of 13 cents per share on $30.7 million in revenue.
Napster says it ended the quarter with about 760,000 paid subscribers.Napster forecast first-quarter revenue will range between $30 million and $31 million, with earnings per share to be relatively flat.
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On the Net:
Napster Inc.: http://www.napster.com
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