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In the world of interactive media, the news Wednesday evening was good for Liberate Technologies (LBRT) - Get Liberty Oilfield Services Inc. Class A Report, but not real good for RealNetworks (RNWK) - Get RealNetworks, Inc. Report.

Liberate, which develops software for interactive television, reported a pro forma net loss of $6.9 million, or 7 cents per share, for the second quarter ended Nov. 30. Analysts had expected a loss of 17 cents a share, according to

First Call/Thomson Financial

. Revenue for the quarter rose 93% from a year earlier to $11.7 million, ahead of analysts' consensus estimate of $10.1 million.

The company also raised its financial guidance for the third quarter ending Feb. 28, excluding the impact of special charges.

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The company says its installed base of subscribers roughly doubled to 700,000 in the quarter ended Nov. 30. Liberate says it reports revenue only from deployments accompanied by a royalty report. Liberate's shares fell $2.38 to close at $11 on Wednesday, before the company reported its numbers; the stock regained $1.38 of the loss in after-hours trading.

Meanwhile, Internet broadcasting enabler RealNetworks had a more disappointing report on its end of the Internet-broadcasting convergence front. In a preannouncement of its results for the fourth quarter ending Dec. 31, the company said it expects to a report pro forma diluted earnings of 2 cents a share, compared to the First Call consensus of 4 cents. RealNetworks now expects revenue to end up between $58 million to $60 million, well short of the $73.5 million that analysts were awaiting.

Though ads associated with streaming audio and video are seen as a more promising forum for online advertising than the ubiquitous banner ad, the trend didn't pan out for RealNetworks in the quarter. In a conference call, the company said its biggest shortfall in the quarter came in the area of online advertising. In the fourth quarter, the company's ad revenue will amount to about $7 million rather than the $13.5 million RealNetworks had expected. The company blamed lower ad rates and customers with credit problems.

"We are not immune to the current market environment for Internet-related spending," said RealNetworks CEO Rob Glaser in a statement.

The company fell $1.06 to $9.94 in normal trading, then plummeted to $6 in after-hours trading.

RealNetworks says it expects to report full results for the fourth quarter around Jan. 30, 2001.