Napster posts a quarterly profit

napster-q3-2016Napster posted a profit for its third quarter of 2016. The streaming service’s Q3 results included a record-high revenue of $54.3 million and a profit of $1.63 million for the period. In the same quarter of 2015, revenue totaled $52.77 million with a loss of nearly $6.34 million. The positive quarterly result is a strong turn for Napster after the service reported a spike in annual net losses for 2015.

As usual, the results for Napster came through the quarterly filings of parent company RealNetworks. Even though it was rebranded as Napster in the U.S. this summer, the SEC filing still refers to the streaming platform by the old Rhapsody name.

Anna Washenko