Napster Cries for Mommy

Tags: Napster, NAPS
18 May 7:44pm
Excluding discontinued gaines, Napster posted a fourth-quarter loss of $7.3 million, or $0.17/share. Revenue for the March quarter climbed 54% to $26.8 million. Analysts were looking for a loss of $0.35/share and revenue of $25.3 million. That was good news, lower than expect loss coupled with higher than expected revenues. What was not so good news was that the Company said for the current quarter, it would lose $16 million on the bottom line, or $0.37/share. Those earnings targets were worse than feared, as analysts were calling for a loss of $0.31/share. ...hmmm, I guess they won't be going anywhere soon.

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