“Online music service Napster on Wednesday posted a fourth-quarter loss but said revenue rose sharply on strong subscriber growth,” Reuters reports. “Napster posted a net loss of $24.3 million, or 60 cents a share, for the quarter ended March 31, compared with a net loss of 20 cents per share, or $6.57 million, a year earlier. Fourth-quarter net revenue grew 188 percent to $17.4 million… Napster’s stock was little changed in after-hours trading on Inet following the earnings release. The stock had slid nearly 27 percent, or $1.70 a share, to $4.65 a share before the close.”
Full article here.
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