April 4, 2008

Napster Q4 Revenue Hits $31 Million

Shares of Napster Inc. jumped Thursday after the online music retailer said it expects its revenue for the fiscal fourth-quarter, which ended March 31, totaled about $31 million, beating analysts' predictions. The company's revenue totaled $29.1 million in the year-ago quarter. Napster also said its subscriber base rose to about 760,000 by the end of March. (Billboard, Digital Music News)