Brief: Motorsport Games Reports Third Quarter 2022 Financial Results

Motorsport Games

18/11/2022 21:07

Nov 18 (Reuters) - Motorsport Games Inc  MSGM.O :
    * MOTORSPORT GAMES REPORTS THIRD QUARTER 2022 FINANCIAL
RESULTS
    * REVENUES FOR Q3 2022 WERE $1.2 MILLION, AS COMPARED TO
$2.1
MILLION FOR Q3 2021
    * QTRLY NET LOSS ATTRIBUTABLE TO CLASS A COMMON STOCK PER
SHARE:
BASIC AND DILUTED $7.29
    * Q3 REVENUE VIEW $3.2 MILLION -- REFINITIV IBES DATA
    * MOTORSPORT GAMES- BY IMPLEMENTING 2022 RESTRUCTURING
PROGRAM,
EXPECTS TO ELIMINATE ABOUT 20% OF ITS OVERHEAD COSTS WORLDWIDE
BY END OF 2023
    * BY IMPLEMENTING 2022 RESTRUCTURING PROGRAM, EXPECTS TO
DELIVER
ABOUT $4 MILLION OF TOTAL ANNUALIZED COST REDUCTIONS BY END OF
2023

Source text for Eikon:  ID:nGNXxDWqq 
Further company coverage:  MSGM.O 
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