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Mybet Holding swings to loss in Q1

Mybet Holding SE said its first-quarter normalized net income was a loss of €728,880, compared with income of €94,380 in the prior-year period.

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

The normalized profit margin dropped to negative 6.6% from 0.5% in the year-earlier period.

Total revenue rose year over year to €19.0 million from €18.3 million, and total operating expenses rose 10.2% year over year to €19.8 million from €18.0 million.

Reported net income came to a loss of €1.1 million, or a loss of 4 cents per share, compared to income of €100,000, or 0 cents per share, in the prior-year period.