Realnetworks has reaped the benefits of high demand for streaming video reporting a 94 percent increase in revenues for the fourth quarter and a narrower loss.
The maker of the Realplayer software said revenue nearly doubled from $10.3 million for the fourth quarter of 1997 to reach $20 million for the fourth quarter of 1998.
Realnetworks said during the quarter, ending 31 December, 1998, the number of registered users of Realplayer hit 50 million, while the company also struck a partnership with Excite to use its Realsystem G2 product to search for streaming video over the Net. (See Newswire 24 November)
Net loss for the fourth quarter was $1.1 million, or $0.03 cents per share, including all charges related to its acquisition of Vivo software, compared to a pro forma loss of $2.6 million, $0.09 cents per share, for the same period in 1997.
Not including the charges, Realnetworks said its loss fourth quarter loss was #600,000, or $0.02 cents a share, beating the Wall Street estimated loss of $0.04 cents a share.
Revenue for the whole of fiscal 1998 nearly doubled from $32.7 million in 1997 to 64.8 million. However, the company still reported a net loss of $16.4 million, 51 cents per share for 1998.
Realnetworks is still in dispute with Microsoft as the software giant claims Realplayer G2 is not compatible with its own streaming product, Multimedia for Windows, Microsoft had held a 10 per cent stake in the company but sold it in November last year. (See Newswire 19 November)
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