Seattle streamer struggles with low numbers
HOLLYWOOD — Internet audio and video software maker RealNetworks on Tuesday blamed the sour economy for a fall in third-quarter revenues to $45.2 million, compared with $67.1 million a year ago.
The Seattle-based company, which has not said when it will turn a true profit, reported a net loss of $19.4 million, compared with the $30.8 million it lost during the same period last year. Pro forma income, which excludes certain expenses such as the cost of acquisitions and losses from investments for the period ended Sept. 30, was $2 million, compared with $7.6 million.
Signaling that business will not pick up before the end of the year, the company said it expects to see about the same revenue and pro forma earnings in the fourth quarter, ending Dec. 31, as it did in the third quarter.
Sales slid across company lines including software licensing and service fees, but advertising rev — down to $2.4 million from $13.5 million — showed the biggest percentage decline.
RealNetworks is expecting continued, but not extraordinary, growth in its subscription service GoldPass, soon to be marketed under the new RealOne moniker.
Shares in RealNetworks closed up 19¢ at $6 on Tuesday.