Napster Narrows Loss as Sales, Users Grow
From the Associated Press
Napster Inc. said its fiscal first-quarter loss narrowed from the year-earlier period as the Los Angeles-based online music service posted record revenue and boosted its subscriber rolls during the quarter.
For the quarter ended June 30, Napster’s loss was $9.8 million, or 23 cents a share, compared with $19.9 million, or 46 cents, in the year-earlier period.
Revenue rose to $28.1 million, up from $21 million a year ago.
Shares of Napster rose 13 cents to $2.75.
