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RealNetworks Sees 28 Percent Growth In Games Biz

RealNetworks has announced its quarterly earnings for Q3 2007, announcing a record $145.1 million in sales, a growth of 55 percent, and $4.3 million in profits -- with $28.8 million in sales credited to its games business, which grew 28 percent and saw co
RealNetworks has announced its quarterly earnings for Q3 2007, announcing a record $145.1 million in sales, a growth of 55 percent, and $4.3 million in profits. Notably, the company said its games business, which includes RealArcade, GameHouse and, more recently, GameTrust, earned $28.8 million in sales, a 28 percent year-over-year growth, and it highlights both the launch of one of its franchise properties, SuperCollapse! 3 for PSP along with its acquisition of GameTrust to incorporate community into its sites and its partners' sites. RealNetworks' online music division saw $37.7 in sales, a 24 percent year-over-year growth, along with the formation of its TiVo-delivered Rhapsody America digital music service with MTV Networks and its multi-year alliance with Verizon. The company's media software and services division saw $25.3 million in sales, a 14 percent decline over last year, and its technology products and solutions division saw $53.3 million in sales, representing a 377 percent year over year growth due to its acquisition of WilderThan during the fourth quarter of 2006. Real chairman and CEO Rob Glaser commented, "In the third quarter we both achieved solid operating results and made great strides strategically. Not only did we achieve record revenue, we also increased our adjusted EBITDA by 78% year over year. On the strategic side, we formed deep alliances with Viacom’s MTV Networks and Verizon Wireless, which we believe will drive our Rhapsody music business forward very significantly."

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