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Warner Music quarterly loss narrows

NEW YORK
Thu Aug 7, 2008 7:21am EDT

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The headquarters of Warner Music Group is pictured in Burbank, California August 5, 2008. REUTERS/Fred Prouser

NEW YORK (Reuters) - Warner Music Group (WMG.N) posted a smaller quarterly loss as improved sales in Europe softened the effects of the slowdown in the global music industry, the company said on Thursday.

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The world's third-largest music company said its net loss for the third quarter ended on June 30 narrowed to $9 million, or 6 cents a share, from $17 million, or 12 cents a share, a year earlier.

Revenue rose to $848 million from $804 million, although factoring out the benefits of the weak dollar, sales declined 1.1 percent.

(Reporting by Franklin Paul; Editing by Lisa Von Ahn)
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