SEATTLE, Aug 11 (Reuters) - Napster Inc posted a bigger quarterly loss on Monday as the number of its paid subscribers declined, and the online music service predicted revenue to be mostly flat in the current quarter.
Napster's fiscal first-quarter net loss grew to $4.38 million, or 10 cents a share, compared with $4.24 million, or 10 cents a share, in the same quarter a year ago. Revenue fell 6 percent to $30.3 million from $32.3 million a year ago.
Analysts, on average, had forecast a loss of 9 cents per share on revenue of $30.51 million, according to Reuters Estimates.
The music service has been hurt by declining subscribers, pressured by competing services like Apple Inc's iTunes and Microsoft Corp's Zune.
Napster said the number of paid subscribers fell to 708,000 at the end of June from 760,000 at the end of March.
Napster's fiscal first-quarter net loss grew to $4.38 million, or 10 cents a share, compared with $4.24 million, or 10 cents a share, in the same quarter a year ago. Revenue fell 6 percent to $30.3 million from $32.3 million a year ago.
Analysts, on average, had forecast a loss of 9 cents per share on revenue of $30.51 million, according to Reuters Estimates.
The music service has been hurt by declining subscribers, pressured by competing services like Apple Inc's iTunes and Microsoft Corp's Zune.
Napster said the number of paid subscribers fell to 708,000 at the end of June from 760,000 at the end of March.
