RealNetworks posted a $22.2 million loss (62 cents per share) for the third quarter, an improvement over its loss of $31.4 million (88 cents) in the same quarter a year ago, despite its revenue declining to $34.2 million, from $49 million in the same period last year.
The Seattle-based company announced today that its RealPlayer Cloud video sharing service has reached 8 million users, up from 5 million three months ago.
“During the third quarter of 2014, we continued to make progress in our strategic transition to our new multi-device, multi-platform, cloud-based products and services, led by RealPlayer Cloud” said Rob Glaser, Chairman and CEO of RealNetworks, in a news release announcing the results.
Glaser, the company’s founder, was named the company’s permanent CEO in July, after holding the title on an interim basis for two years. RealNetworks, an early pioneer of online media, has struggled to find traction and profits in recent years. The company’s primary lines of business are its RealPlayer Group, Mobile Entertainment and Games, under its GameHouse brand.