Internet streaming media software developer RealNetworks this evening reported Q1 sales of $140.8 million, down 5 percent year over year, and in line with analysts’ estimates, and a net loss of 10 cents per share, worse than the 6-cent loss expected.
The outlook for consumer spending over the next 90 days looks “grim,” according to ChangeWave Research.
The firm said a survey of 2,701 U.S. consumers taken in the February 2-9 period found the worst spending outlook ever recorded in one of its surveys.
Gene Munster of Piper Jaffray cut estimates on 33 Internet companies today. He claims that it’s due to the “significant deterioration in the economic and consumer spending outlook.” Well, at least people are saving a little money. Munster sees e-commerce spending down 10 percent in the coming year, and online advertising up just two percent.
Kaufman Bros. analyst Shaw Wu believes that Apple’s market share is still small enough relative to the overall PC and cellphone markets that there’s room for significant growth in both the Mac and iPhone businesses. He expects the company to earn $5.05 a share in FY 2009 on revenues of $35.5 billion.
In the latest in a string of analysts getting spooked about slowing consumer spending, Citigroup (C) analyst Richard Gardner this morning cut his estimates for Apple (AAPL) for this year, 2009, and 2010, and lowered his target price to $170 from $287. The reasons are familiar: an expected decline in disposable consumer income growth will pressure computer and consumer electronics sales.
Worldwide smartphone sales grew 15.7 percent in Q2 from a year earlier, Gartner announced this morning. The research firm says smartphones remained 11 percent of the mobile device market, unchanged from a year earlier.
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