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Bright Mountain Media Q3 revenue falls 17%, net loss widens

By Reuters News


Overview

  • Digital media holding company's Q3 revenue fell 17% yr/yr amid portfolio optimization and market conditions

  • Q3 net loss widened 6% to $3.0 mln

  • Adjusted EBITDA for Q3 rose 10% yr/yr to $1.5 mln


Outlook

  • Company did not provide specific guidance for the current quarter or full year in its press release


Result Drivers

  • PORTFOLIO OPTIMIZATION - Co said revenue decline reflected impact of portfolio optimization initiatives and broader market conditions

  • COST REDUCTIONS - Co reported a 37% decrease in general and administrative expenses, contributing to improved operating performance

  • OPERATIONAL STREAMLINING - CEO cited actions to streamline operations and invest in AI-driven capabilities as positioning the company for long-term value


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$11.62 mln

Q3 Net Loss

$3.01 mln

Q3 Adjusted EBITDA

$1.46 mln

Q3 Operating Income

$221,000

Q3 Pretax Loss

$3.01 mln


Reuters Recommended Reads

  • Nov 12 - Saga Communications Q3 revenue falls, net loss widens

  • Nov 12 - IZEA Worldwide Q3 revenue falls 23% on SMB decline

  • Nov 10 - Dolphin Entertainment Q3 revenue rises 8.3% to record high


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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