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Artnet Q3 loss narrows YOY

artnet AG said its normalized net income for the third quarter came to a loss of €33,630, compared with a loss of €360,940 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 0.8% from negative 10.9% in the year-earlier period.

Total revenue grew 20.8% year over year to €4.0 million from €3.3 million, and total operating expenses climbed 9.4% from the prior-year period to €4.0 million from €3.7 million.

Reported net income totaled a loss of €60,070, or a loss of 1 cents per share, compared to a loss of €577,580, or a loss of 10 cents per share, in the year-earlier period.