RealNetworks Reports Third-Quarter Net Loss, Expects Profitable Fourth Quarter
Oct 20, 2004, 12:00 AM
RealNetworks Inc. Wednesday reported a net loss of $7 million, or 4 cents per share, as compared to a net loss of $3.7 million, or 2 cents per share, for the same period last year. However, the company recorded a 32 percent gain in third-quarter revenue, partly a result of strong demand for the company's online music subscription service. Revenue from the company's music service grew 304 percent to $18.8 million during the quarter. The company claimed more than 625,000 subscribers to its music services. Revenue for the quarter grew to $68.3 million, compared to $51.8 million last year. The Seattle-based Internet media company said it expects to be profitable in the fourth quarter, but lowered its guidance because of "several underperforming video content relationships."