RealNetworks (NSDQ: RNWK) announced its Q2 2008 earnings today, and was in net losses for the quarter: it has losses of $1.3 million compared, or 1 cents a share, to profits of of $1.3 million in the year ago quarter. Revenues rose 12 percent to $152.6 million from last year’s sales of $136.2 million. Analysts surveyed by Thomson Reuters (NASDAQ: TRIN) forecasted Real to lose 2 cents a share on $153 million in sales.

Some reasons why the revenues rose: a 40 percent increase in games division revenues to $34.9 million, of which $4 million was due to the acquisition of TryMedia; a 15 percent increase in Media Software and Services revenue to $29.2 million; a 5 percent increase in Technology Products and Solutions revenue to $51.3 million; and a 1 percent increase in music revenue to $37.2 million (on music front Q208 is a decline from sequential Q108, where music revenues were $38.1 million).

More on music: its total number of subscribers-- including Rhapsody, Rhapsody-to-Go, premium radio, and music-on-demand—are flat from Q108 and Q207, at 2.675 million.

Operating expenses increased to $109.7 million..that included $9.2 million of related party advertising in Rhapsody America (which means the ads it bought on MTV networks as part of the JV). The company is in the process of spinning off its casual games unit into a separate company.

Release | Webcast (5:00 PM ET)