In its report, the one-time industry whipping post said its pro forma net loss totaled $3.1 million or 5 cents per share, compared with a loss of $10.6 million or 17 cents per share during the same period in 1999. Revenues increased to $22 million from $15.3 million.
Analysts on average had predicted a loss of 13 cents per share, according to First Call/Thomson Financial, which tracks financial results.
"This has truly been an incredible year for MP3.com and the entire music industry," said Chairman/CEO Michael Robertson. "Throughout the year, we held to our key objectives of building the infrastructure and technologies that we believe will unlock the enormous possibilities of digital music, broadening our business model to incorporate new and innovative revenue streams. And by ‘incredible year' I mean 'damn, we spent a lot on lawyers'."
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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