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Napster Parent Roxio Ups Revenue Forecast for Second Quarter

Authored by Mark Hefflinger on September 20, 2004 - 3:57am.
Santa Clara, Calif. -- Roxio, a provider of CD burning software and parent company of Napster, announced on Monday that it expects to exceed its prior revenue predictions for both of its businesses for the second quarter. The company said it expects Napster to report $9 million in revenues, up from a prior estimate of $8 million, while Roxio will report revenues of $18 million, up from $17 million; Roxio also expects its loss for the quarter to be narrower than analyst forecasts. "The strength of Napster's results reflects increasing traction in the online music market and a favorable mix toward subscribers," said Napster chairman and CEO Chris Gorog. "We are excited by numerous near-term business catalysts for Napster including the upcoming consumer launch of, and device support for, the 'Napster To Go' portable subscription service, along with the full implementation of our partnership with Best Buy." Santa Clara, Calif.-based Roxio previously announced the sale of its Roxio CD burning software unit to Sonic Solutions, a deal the company says is slated to close in the fourth quarter.
tags: Second Quarter | Roxio | Napster Parent | Revenue Forecast | Ups |