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http://www.businessweek.com/investor/content/aug2005/pi2005083_3375_pi010.htm

RealNetworks (RNWK ): Reiterates 3 STARS (hold)
Analyst: Scott Kessler
RealNetworks posts earnings per share of 3 cents, after antitrust litigation expenses of 3 cents, vs. a per-share loss of 3 cents, 2 cents above our estimate. Revenues rose 26% on strength in consumer offerings. Notable, in our view, were the 61% gain in music revenues despite Yahoo's launch of a competing service mid-quarter, and a 22% increase in advertising-type revenues largely related to RealNetworks's bundling of Google Toolbars. Although RealNetworks raises its EPS guidance for 2005, our estimate of 7 cents and our discounted cash flow-based 12-month target of $6.50 are unchanged. We think RealNetworks faces sizable competitive challenges.
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