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B2W Q1 loss narrows YOY

B2W - Companhia Digital said its first-quarter normalized net income came to a loss of 19 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of a loss of 8 centavos per share.

The per-share loss narrowed 46.4% year over year from 35 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 48.3 million reais, compared with a loss of 56.2 million reais in the year-earlier period.

The normalized profit margin climbed to negative 2.3% from negative 3.2% in the year-earlier period.

Total revenue climbed 23.6% year over year to 2.14 billion reais from 1.73 billion reais, and total operating expenses rose 24.6% on an annual basis to 2.06 billion reais from 1.65 billion reais.

Reported net income totaled a loss of 50.4 million reais, or a loss of 20 centavos per share, compared to a loss of 57.6 million reais, or a loss of 36 centavos per share, in the year-earlier period.

As of May 8, US$1 was equivalent to 2.99 reais.