EmptyGames, d-music lift RealNetworks
Digital media company RealNetworks Inc. posted a higher first-quarter profit Wednesday, boosted by a stronger performance from its games and digital music subscription businesses. Net income was $39.96 million, compared with $24.88 million a year ago, on revenue that rose 50% to $129.5 million. Both quarters included proceeds from the settlement of litigation against Microsoft Corp. and commercial agreements with the software giant.
Sinclair sets offering, posts Q1 loss
Television broadcaster Sinclair Broadcast Group Inc. said Wednesday that it plans to publicly offer about $300 million of convertible senior notes due in 2027. The news came just after Sinclair reported a first-quarter loss of $2.4 million in the quarter ending March 31 compared with a profit of $10 million a year ago. Revenue rose to $166.9 million from $163.5 million a year ago. Sinclair shares sank 7.4% on Wednesday to $15.33; it was the second-biggest loser on The Hollywood Reporter's Showbiz 50 stock index.
Dolby Labs' Q2 earnings top Street
Dolby Laboratories Inc. on Wednesday reported fiscal second-quarter results above Wall Street expectations on soaring licensing revenue and raised its fiscal 2007 outlook. Dolby, best known for its movie theater surround-sound systems, reported earnings of $39.1 million, compared with $28 million in the year-ago period, as revenue leapt 23% to $129 million. Dolby shares climbed 3.9% on Wednesday to $35.05 and as much as 3% in after-hours trading.