Apple competitor Napster will reveal its second quarter financial results today.

The results will be announced in a webcast that takes place at 2pmPT (10pm UK time).

Digital Music News reports the company has recently revealed it has 400,000 subscribers. Napster's first quarter results saw revenues hit $21 million, but still returned a $19.9 million loss.

The report claims "some insiders are reporting a heavy burn rate for Napster."

The company's shares declined one cent on the afterhours market last night. They currently stand at $3.61, at the low-end of its 52-week range.