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Mybet Holding Q3 loss narrows YOY

Mybet Holding SE said its normalized net income for the third quarter was a loss of 2 euro cents per share, compared with a loss of 12 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 €449,630, compared with a loss of €3.1 million in the year-earlier period.

The normalized profit margin rose to negative 4.1% from negative 25.0% in the year-earlier period.

Total revenue fell 11.0% year over year to €11.1 million from €12.5 million, and total operating expenses decreased 31.2% on an annual basis to €11.7 million from €17.0 million.

Reported net income totaled a loss of €722,000, or a loss of 3 cents per share, compared to a loss of €4.9 million, or a loss of 19 cents per share, in the prior-year period.