Bright Mountain Media Q2 net loss narrows on cost management
Bright Mountain Media Q2 net loss narrows on cost management
Overview
Digital advertising platform's Q2 revenue fell 12% yr/yr amid portfolio optimization and market conditions
Net loss for Q2 improved 22% yr/yr, driven by cost management and operating efficiency
Q2 adjusted EBITDA loss narrowed 13% yr/yr
Outlook
Company did not provide specific guidance for the current quarter or full year in the press release
Result Drivers
PORTFOLIO OPTIMIZATION - Co said revenue decline reflected impact of portfolio optimization and market conditions
COST MANAGEMENT - Improved net loss attributed to disciplined cost management and operating efficiency, per CEO Matthew Drinkwater
Company press release: ID:nGNX3BkFVX
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $13.63 mln |
|
Q2 Net Loss |
| $3.20 mln |
|
Q2 Adjusted EBITDA |
| -$190,000 |
|
Q2 Operating Income |
| -$91,000 |
|
Q2 Pretax Loss |
| $3.20 mln |
|
Reuters Recommended Reads
Aug 5 - System1 Q2 revenue drops sharply, posts net loss after reducing marketing activity significantly
Aug 5 - Digital ad firm Taboola's Q2 revenue rises, but misses estimates
Aug 6 - Trade Desk misses Q2 profit, revenue estimates; shares tumble
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)