RealNetworks Earnings Call: Glaser: Most Turbulent Environment Since We Started Our Business
This story was written by Rafat Ali.
Ongoing: Rob Glaser, CEO of RealNetworks (NSDQ: RNWK), starts off the Q208 earnings call on a somber note: This is most turbulent macro-economic scene we have seen since our company was founded 14 years ago. We are seeing ripple effects of the economic slowdown...for us, specially advertising softness, and reduction in capital expenditure. We are better positioned to ride out this downturn, because of our balance sheet and cash.
Music without limits, its news DRM free service: Launched June 30th and going well. Optimistic about our chances, but sober about competition with Apple (NSDQ: AAPL) iTunes.
Spinning out the games business: On track to file for the spin-off by end of 2008. No specific details about how this will happen.
The formal earnings report is here.
More to come
By Rafat Ali