Real Networks said today that it cut its second quarter loss and that its restructuring efforts are ahead of plan. Still, the company missed Wall Street's estimates. (Statement)
For the quarter, the company reported sales of $88.9 million and a net loss of $25.9 million, or 19 cents, up from a net loss of $1.40 cents in the year-ago quarter. Wall Street had been expecting a net loss of 9 cents per share on revenue of $90.7 million.
Looking ahead at the third quarter, the company said it expects overall revenue to be lower sequentially, largely because of "softness in Games," and to decline year-over-year, excluding music.
The company also provided an update on its previously announced reorganization, which resulted in the elimination of about 85 positions during the quarter, including about 25 percent of the executive ranks.