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Warner Music Group Corp posted a smaller-than-expected quarterly loss on Thursday, as improved sales in Europe softened the effects of the slowdown in the global music industry.

Warner Music Group Corp. reported Thursday its loss narrowed in the fiscal third quarter as the global music industry slowed down while European sales strengthened.

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Considering the wider decline of the traditional music industry, Warner Music Group had a pretty good quarter, as the company's Q2 net loss narrowed to $9 million from $17 million and revenues gained 5 percent to $848 million from $804 million.