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Lotto24 Q2 loss narrows YOY

Lotto24 AG said its second-quarter normalized net income amounted to a loss of 4 euro cents per share, compared with a loss of 14 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €869,380, compared with a loss of €3.1 million in the year-earlier period.

The normalized profit margin climbed to negative 18.1% from negative 82.8% in the year-earlier period.

Total revenue increased 29.5% year over year to €4.8 million from €3.7 million, and total operating expenses fell 29.4% year over year to €6.1 million from €8.7 million.

Reported net income totaled a loss of €611,000, or a loss of 3 cents per share, compared to a loss of €4.3 million, or a loss of 20 cents per share, in the year-earlier period.