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Warner Music Quarterly Loss Widens
August 07, 2007
Warner Music Group, the world's third largest record company, posted a wider quarterly loss on Tuesday as the company contends with rapidly dropping music sales in the United States.
Net loss widened to $17 million, or 12 cents per share compared with a loss of $14 million, or 10 cents per share for the year-ago quarter.
Revenue declined 2% to $804 million during the period.
Wall Street analysts had on average been expecting revenue of $832.2 million.
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