Warner Music Group Corp. shares fell 11 percent Thursday after the recording company reported a larger fiscal second quarter loss as its recorded music sales fell more than expected.

Warner Music Group Corp., with headquarters in Los Angeles and New York, reported net loss of $68 million (45 cents a share) for the quarter ended March 31, compared with a loss of $37 million (25 cents) a year ago. Revenue fell 17 percent to $668 million.

Warner Music took $33 million in charges that included the lower value of its stakes in digital music start-ups Lala and Imeem. Excluding the charges, the per share loss would have been 23 cents. Analysts surveyed by Thomson Reuters on average had expected a loss of 25 cents a share on revenue of $739 million.

Digital music sales rose 6 percent to $173 million, but comprised a growing 26 percent of total revenue in the quarter. Total recorded music revenue fell 18 percent, in part due to a light new-release schedule. The company also blamed the weak economy for lower sales of both DVD and digital music.

Warner shares were down 59 cents, or 11 percent, to $4.86 in midday trading on the New York Stock Exchange.