RUMOR MILL
Net (not Internet) revenues were $17.5 million and losses were $18.1 million. Revenue in the fourth quarter totaled $15.4 million.
Monday, April 24, 2000
MP3.COM P&L: UP AND DOWNLOAD
Netco Announces Bigger First Quarter Revenues, Losses
Caption: MP3.com, the Internet music company lawyers love most, announced that both its revenues and losses were up in the first quarter. Net (not Internet) revenues were $17.5 million and losses were $18.1 million. Revenue in the fourth quarter totaled $15.4 million. The company's revenue in the first quarter of 1999 was $666,000 (or 1,000 Satans, according to hilary rosen',390,400);">hilary rosen',390,400);">Hilary Rosen).
Pro forma net losses for the quarter were $8.4 million, down from $10.6 in the fourth quarter. These losses exclude acquisition-related costs, non-operating losses associated with the company's minority interest in mp3radio.com and certain cash and non-cash charges related to employee costs, but include deferred compensation. We haven't figured out if legal costs related to fending off the RIAA are in there somewhere.
Dragged southward by another stomach-churning NASDAQ downturn, MP3.com (MPPP) closed near its 52-week low on Monday, at 9 11/16.
