A few days ago RealNetworks announced its earnings for the first quarter of 2006. How nice of them to break out the revenue for the music division and offer previous quaters for comparison. Here they are:

• 2006 Q1: $28.9 million
• 2005 Q1 2005: $22.2 million
• 2005 Q2 2005: $24.1 million
• 2005 Q3 2005: $25 million
• 2005 Q4 2005: $26.1 million

RealNetworks had record revenues of $86.6 million for the quarter ($11 million more than the first quater of 2005).

Here's where it gets interesting. Net income for the quater was $24.9 million. Excluding the impact of the Microsoft litigation -- which added over $31 million to operating income -- net income was only $3.4 million. Yeah, not so much. But subscribers are up to 2.4 million.

Listen to the earnings conference call (MP3) and read the financials (PDF).