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Mybet Holding swings to loss in Q3

Mybet Holding SE said its normalized net income for the third quarter came to a loss of €627,250, compared with income of €122,130 in the prior-year period.

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

The normalized profit margin declined to negative 25.0% from 0.7% in the year-earlier period.

Total revenue declined 6.4% on an annual basis to €17.0 million from €18.2 million, and total operating expenses totaled €17.6 million, compared with €17.6 million in the prior-year period.

Reported net income came to a loss of €4.4 million, or a loss of 17 cents per share, compared to income of €242,570, or 1 cents per share, in the year-earlier period.