RealNetworks (RNWK) Q2 Revenues Beat

RealNetworks (NASDAQ: RNWK) reported Q2 EPS of ($0.13), which may note compare to the analyst estimate of $0.00. Revenue for the quarter came in at $40.4 million versus the consensus estimate of $33.11 million.

"In Q2 Real delivered solid results. We were very pleased with our strong operational execution in the first full quarter of living and working during the global pandemic," said Rob Glaser, Founder, Chairman, and Chief Executive Officer of RealNetworks. "We generated a 9% year-over-year increase in our core revenue when not including Napster. In addition, we narrowed our adjusted EBITDA loss, our fourth consecutive quarter of year-over-year improvement in this metric. We are putting an appropriate amount of fuel into our growth businesses while also closely managing our overall expenses."

Mr. Glaser continued, "We were excited to introduce two new consumer products in commemoration of the 25th anniversary of the streaming industry. RealPlayer® 20/20 and StarSearch™ by Real® utilize the power of AI and our SAFR computer vision platform to make streaming in today\'s world even better. In addition, we are continuing to enhance our world-class SAFR platform and service focused primarily on the traditional security and safety markets along with innovations focused on new needs at the intersection of public health and public safety. In particular, we were honored to be awarded two SBIR contracts by the U.S. Air Force. These contracts both enable us to continue to enhance the SAFR platform and also support the important missions of our U.S. armed forces while enhancing their safety."

For earnings history and earnings-related data on RealNetworks (RNWK) click here.

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