RealNetworks (RNWK) Tops Q2 EPS by 1c

RealNetworks (NASDAQ: RNWK) reported Q2 EPS of ($0.77), $0.01 better than the analyst estimate of ($0.78). Revenue for the quarter came in at $34 million versus the consensus estimate of $31.19 million.

"During the quarter, we launched RealTimes™, a breakthrough product which provides the fastest and easiest way for consumers to get the most out of their personal photos and videos," said Rob Glaser, Chairman and CEO of RealNetworks. "RealTimes, which automatically creates personalized stories that can be easily customized and shared, is off to a great start with over 2 million users in the first 2 months.

"We are also pleased to report continued strong growth at the Rhapsody music service, in which we play a significant role and have a large ownership stake, which recently announced that it has surpassed 3 million paying subscribers.

"At the same time that we're investing in the roll out of RealTimes, we are also taking steps to focus RealNetworks on its best opportunities, generating cash from non-core assets and reducing operating expenses. Our announced sale of our Slingo and social casino games business for $18 million is a significant step in support of these objectives."

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

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