RealNetworks Q3 Revs Miss; Profits Beat On Large Tax Refund
RealNetworks this afternoon reported Q3 revenue of $86.4 million, down three percent sequentially, off 38 percent year-over-year, and below the Street consensus at $88 million. But the company posted a profit for the quarter of $24.5 million or 18 cents a share largely due to a $33.9 million tax benefit, including a $30 million refund from the IRS. (I wish I had a $30 million refund from the IRS.) The Street had been expecting a loss of seven cents a share, which is roughly what they would have reported without the gain.