EmptyMIXED DAY FOR REALNETS
RealNetworks posted a lower profit Thursday but higher revenue boosted by game sales. Profit in the first quarter was $2.4 million, compared with $39.9 million a year ago. The company said it plans to spin off its game business, news that sent shares as much as 10% higher in after-hours trading.
ACTIVISION game for gains
Activision's fiscal fourth-quarter profit of $54.9 million beat expectations on strong sales of its "Guitar Hero III" video game. Revenue jumped 93% to $602.5 million. CEO Bobby Kotick said gaming fundamentals "have never been stronger" despite a weak economy. "There is no evidence that this growth will slow."
LIN Q1 earnings off 93%
Lin TV first-quarter earnings dropped 93% from the year-ago period, when the company booked a hefty gain from an asset sale. Earnings for the quarter fell to $1.5 million. Excluding discontinued operations, earnings totaled $900,000, compared with an adjusted year-ago loss of $1.6 million.
Discovery Holding posted a first-quarter profit Thursday that jumped 33% thanks to strength at its cable television network subsidiary that runs the Discovery channels. Discovery reported $29.8 million in profit on revenue of $189.3 million. Discovery shares leapt 10% to $25.75.