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SMALL BUSINESS
RealNetworks posts surprise 3Q profit
AP
SEATTLE -RealNetworks Inc. posted a surprise third-quarter profit Thursday after a year of losses, as cost cutting helped make up for declining revenue.
The digital entertainment company earned $1.5 million, and broke even on a per-share basis. That compares with a loss of $4.5 million, or 3 cents per share a year ago.
Revenue fell 8 percent to $140.3 million.
Analysts expected the company to show a loss of 6 cents per share on sales of $140.9 million, according to a Thomson Reuters poll.
RealNetworks did not provide specific projections for the fourth quarter. The company said it expects revenue to climb from third-quarter levels but fall year-over-year as media software and services and technology products revenue remains flat and music and game revenue declines.
Analysts surveyed by Thomson Reuters have forecast quarterly revenue of $143.5 million, on average.
Shares rose 9 cents to close earlier at $3.87.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-29 20:00:38
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