Troika Media set for worst day after wider loss

Troika Media

07/03/2023 17:25

** Shares of consumer engagement company Troika Media Group
Inc  TRKA.O  plunge 35.5% to $0.47 - on track for worst day ever
    ** Net loss widened to $9.6 mln in the six months ended Dec
31, from $6.2 mln a year earlier, as operating expenses rose
    ** TRKA reported record revenue of $187.9 mln in the same
period, up from $15.3 mln a year earlier
    ** Co says increase in HY revenue was directly attributable
to marketing firm Converge that it acquired in March 2022; it
accounted for about 96% of TRKA's total revenue
    ** Up to last close, stock had risen ~560% YTD

 (Reporting by Ananta Agarwal in Bengaluru)
 ((ananta.agarwal@thomsonreuters.com))