RealNetworks posted its first quarter earnings results on Thursday, noting $30.6 million in revenue over the past three months, which missed analyst expectations of $32 million and was down 17 percent from last year.
The Seattle-based company also posted a $24.5 million net loss, or 68 cents per share, which beat Wall Street’s expectations but increased from a $7.8 million loss one year ago.
RealNetworks said it has more than 11.5 million RealPlayer Cloud user accounts, up from 2 million at this time last year.
“We believe that by combining RealPlayer Cloud’s growing popularity with some exciting innovations we are getting ready to bring to market, we’re setting Real up for the next great chapter in our history,” RealNetwork CEO Rob Glaser said in a statement.
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.
Shares of RealNetworks are down 15 percent in the last year.