Warner Music Quarterly Loss Widens

Warner Music Quarterly Loss Widens
August 07, 2007 - Source: Billboard.biz

Warner Music Group, the world's third largest record company, posted a wider quarterly loss on Tuesday as the company contends with rapidly dropping music sales in the United States.

Net loss widened to $17 million, or 12 cents per share compared with a loss of $14 million, or 10 cents per share for the year-ago quarter. Revenue declined 2% to $804 million during the period. Wall Street analysts had on average been expecting revenue of $832.2 million