Rhapsody posts net loss of $7.97m for Q3
Seattle-based music streaming company Rhapsody has posted a net loss of $7.97m for Q3, according to GeekWire.
The substantial quarterly loss was made in spite of quarterly revenue increasing 25% year-on-year to $44m.
The results were revealed by Rhapsody investor RealNetworks, a digital media company also based in Seattle.
GeekWire reports that the company declined to comment about the reason for the loss.
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