LOS ANGELES, Oct 29 (Reuters) - U.S. digital media company RealNetworks Inc swung back into the black in the third quarter as cost-cutting offset sliding revenue from music and games, helping its shares firm 3.4 percent.
RealNetworks, which delivers music and other entertainment content to computers and mobile devices, saw a meager net profit of $1.5 million -- a gain of less than 1 cent per share -- compared with a net loss of $4.5 million, or 3 cents per share, a year earlier.
The Seattle-based company said third-quarter revenue fell 8 percent to $140.3 million compared with a year ago. Analysts, on average, had expected $140.9 million.
RealNetworks Chief Executive Rob Glaser said in an interview the company boosted its bottom line by reducing costs in its supply chain and in staffing. The company reported that revenue from music, technology products and games was down in the period.
For the fourth quarter, RealNetworks expects overall revenue to decline year-on-year, as sales of media software and service products remains flat.
RealNetworks' shares rose 3.4 percent to $4 after-hours, after closing the regular session at $3.87.
(Reporting by Alex Dobuzinskis; editing by Andre Grenon) Keywords: REALNETWORKS (alex.dobuzinskis@thomsonreuters.com +1-213-955-6781) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
RealNetworks, which delivers music and other entertainment content to computers and mobile devices, saw a meager net profit of $1.5 million -- a gain of less than 1 cent per share -- compared with a net loss of $4.5 million, or 3 cents per share, a year earlier.
The Seattle-based company said third-quarter revenue fell 8 percent to $140.3 million compared with a year ago. Analysts, on average, had expected $140.9 million.
RealNetworks Chief Executive Rob Glaser said in an interview the company boosted its bottom line by reducing costs in its supply chain and in staffing. The company reported that revenue from music, technology products and games was down in the period.
For the fourth quarter, RealNetworks expects overall revenue to decline year-on-year, as sales of media software and service products remains flat.
RealNetworks' shares rose 3.4 percent to $4 after-hours, after closing the regular session at $3.87.
(Reporting by Alex Dobuzinskis; editing by Andre Grenon) Keywords: REALNETWORKS (alex.dobuzinskis@thomsonreuters.com +1-213-955-6781) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
