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Lotto24 Q1 loss narrows YOY

Lotto24 AG said its first-quarter normalized net income came to a loss of 8 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 11 cents per share.

The per-share loss narrowed 34.1% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €1.8 million, compared with a loss of €2.5 million in the prior-year period.

The normalized profit margin climbed to negative 76.2% from negative 144.0% in the year-earlier period.

Total revenue rose 36.9% on an annual basis to €2.4 million from €1.7 million, and total operating expenses declined 7.7% year over year to €5.4 million from €5.8 million.

Reported net income came to a loss of €2.6 million, or a loss of 12 cents per share, compared to a loss of €4.1 million, or a loss of 21 cents per share, in the prior-year period.