Napster hits the Nasdaq

By Derek Sooman on January 4, 2005, 3:18 PM
Once the name of an illegal mp3 trader, now an independent company, Napster aren't really Napster at all - they are Roxio, and they began trading under the NAPS name yesterday on the Nasdaq. The new company has high hopes for future profits.

The company reckons it will report revenues of around $11m for the three months to 31 December 2004, up 18.3 per cent from the previous quarter's $9.3m. During Q2 FY2005, Roxio's digital music operation cost around $7.5m. That seems unlikely to change in the most recently completed quarter, Q3 FY2005. Taking other overheads into account, Napster seems certain to report a loss for the period, despite that double-figure revenue growth.

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