The online music company formerly known as Roxio boosted its revenue guidance for its fiscal fourth quarter by $1 million to $15 million, above the current analysts' consensus of $14.05 million.
The company declined to discuss its bottom line for the quarter that ends March 31, but analysts are expecting a loss of 63 cents a share.
Napster's modest increase in sales guidance was enough to jolt its stock. In recent trading, shares were up 60 cents, or 8.8%, to $7.40. Earlier in the day, the company's stock traded up as high as $7.70.Meanwhile, Apple shares moved in the other direction. In recent trading, shares of Apple, whose iTunes store is a rival of Napster's music service, were off $2.10, or 4.8%, to $42.02. The stock traded down as much as $2.90, or 6.6%, to $41.22, in earlier trading. Apple has dominated the digital music business with its iTunes store and its popular iPod music players. The success of the latter has helped to propel its stock. With iPod sales boosting the company's top and bottom lines, Apple's shares