Warner Music Quarterly Loss Narrows
August 7, 2008 at 5:27 AM (PT)
WARNER MUSIC GROUP posted a smaller quarterly loss as improved sales in EUROPE softened the effects of the slowdown in the global music industry, the company told REUTERS on THURSDAY.
The world's third-largest music company said its net loss for the third quarter ended on JUNE 30th narrowed to $9 million, or 6 cents a share, from $17 million, or 12 cents a share, a year earlier.
Revenue rose to $848 million from $804 million, although factoring out the benefits of the weak dollar, sales declined 1.1%.