Wednesday, July 22, 2009

RealNetworks Releases Revenue Estimates, Hit By Impairment Charge

Seattle-based RealNetworks released preliminary revenue numbers for the firm's second quarter Wednesday afternoon, saying it is expecting between $134M and $136M in revenues for the quarter, and also said it would be taking an impairment charge of up to $176M. According to RealNetworks, the accounting charge was a result of the firm's market capitalization trading below its book value for a sustained period of time. RealNetworks is one of many firms which have been forced to take charges against goodwill, due to the drop in stop market prices in recent months.