This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
2Q losses doubled at the maker of Internet video and audio software, largely due to a one-time charge on excess office facilities.
SEATTLE (AP) -- RealNetworks Inc.'s second-quarter loss nearly doubled as a one-time charge on excess office facilities dragged results down.
The Seattle-based maker of Internet video and audio software reported a net loss of $9.6 million, or 6 cents a share, compared with a loss of $4.9 million, or a penny a share, in the previous year. Included in the results is a one-time charge of $7.1 million, or 4 cents a share.
Excluding the charge, the loss was 2 cents a share, compared with a Thomson First Call consensus estimate for a 1-cent loss.
Revenue growth was driven by an increase in subscription and consumer revenues, while gross margins decreased.
RealNetworks expects modest sequential revenue improvement and a loss excluding charges, but including Listen.com operating losses, of 1 cent to 3 cents a share in the third quarter. Wall Street is projecting a loss of a penny a share for the period.
The acquisition of Listen.com is scheduled to close in the third quarter.
We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
The Cloud Gets Ready for the 20'sThis IT Trend Report explores how cloud computing is being shaped for the next phase in its maturation. It will help enterprise IT decision makers and business leaders understand some of the key trends reflected emerging cloud concepts and technologies, and in enterprise cloud usage patterns. Get it today!