RealNetworks 1st-Qtr Revenue Almost Doubles on Software Sales
Bloomberg News
April 20, 1999, 1:56 p.m. PT
RealNetworks 1st-Qtr Revenue Almost Doubles on Software Sales
Seattle, April 20 (Bloomberg) -- RealNetworks Inc., the
No. 1 maker of software used to access audio and video online,
said first-quarter revenue almost doubled on an increase in
software-license fees.
RealNetworks, which like many Internet companies has yet to
earn a profit, said its first-quarter loss narrowed to $700,000,
or 2 cents a share, from a loss including acquisition-related
charges of $10.9 million, or 35 cents, a year earlier. The
company was expected to lose 3 cents a share, the average
estimate of eight analysts polled by First Call Corp.
Revenue rose 88 percent to $23.5 million from $12.5 million
a year ago. Sales of software licenses rose to $17.0 million from
$9.42 million a year ago.
The Seattle-based company also said it will split its stock
two-for-one effective May 10 for shareholders of record on April
27.
Without the acquisition-related charges, RealNetworks lost
$2.21 million, or 7 cents a share, in the year-ago period.
RealNetworks released its results after the close of regular
U.S. trading. Its shares rose 52 7/16 to 181 1/16 before trading
was halted.
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