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Bright Mountain Media Q1 loss widens 94.2% YOY

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Bright Mountain Media Q1 loss widens 94.2% YOY

Bright Mountain Media Inc. said its normalized net income for the first quarter came to a loss of $405,600, compared with a loss of $208,880 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 95.6% from negative 67.4% in the year-earlier period.

Total revenue rose 36.9% year over year to $424,420 from $310,080, and total operating expenses climbed 64.2% on an annual basis to $1.1 million from $643,850.

Reported net income totaled a loss of $739,060, or a loss of 2 cents per share, compared to a loss of $407,020, or a loss of 1 cents per share, in the year-earlier period.