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FC do Porto fiscal Q2 loss widens 24.8% YOY

Futebol Clube do Porto - Futebol SAD. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was a loss of 98 euro cents per share, compared with a loss of 90 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €16.9 million, compared with a loss of €13.5 million in the year-earlier period.

The normalized profit margin dropped to negative 84.0% from negative 54.9% in the year-earlier period.

Total revenue declined 18.5% year over year to €20.1 million from €24.6 million, and total operating expenses climbed year over year to €43.3 million from €42.4 million.

Reported net income totaled a loss of €27.3 million, or a loss of €1.59 per share, compared to a loss of €21.9 million, or a loss of €1.46 per share, in the prior-year period.