RealNetworks cuts to profits, eyes future with Google - Tom Johansmeyer

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RealNetworks cuts to profits, eyes future with Google
Oct 30, 2009 03:20 PM UTC

Tom Johansmeyer

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Filed under: Internet, Google (GOOG), Technology

RealNetworks (NASDAQ: RNWK) is profitable again! The online media company that provides music and other entertainment cut its way into the black, getting rid of the costs that were getting in the way. It wasn't much of a profit, only $1.5 million for the third quarter, not even a full cent per share, but it's a hell of a lot better than the $4.5 million loss it sustained in the third quarter of 2008.

Revenue fell 8% last quarter to $140.3 million, just shy of the analyst average of $140.9 million. This trend is likely to continue through the fourth quarter. Music, technology product and game revenues were down. The profit was instead eked out of the supply chain and headcount.

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RealNetworks cuts to profits, eyes future with Google originally appeared on BloggingStocks on Fri, 30 Oct 2009 10:20:00 EST. Please see our terms for use of feeds.

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