NTN Buzztime (NTN) Tops Q2 EPS by 4c

NTN Buzztime (NYSE: NTN) reported Q2 EPS of ($0.46), $0.04 better than the analyst estimate of ($0.50). Revenue for the quarter came in at $5.4 million versus the consensus estimate of $5.65 million.

"We are making progress on a number of fronts, most importantly, our primary focus of menu and payment at Buffalo Wild Wings," said Ram Krishnan, NTN Buzztime CEO. "Deployment has been smooth, and we are very encouraged by our market testing at 15 stores. We believe we are achieving the desired guest entertainment and satisfaction as well as providing the operational insights through our data platform. In addition, we continue to advance strategic partnerships with the Washington Redskins, Fanduel and others that we expect to cultivate and then emulate in other advertising opportunities."

"As projected, the first half of this year has been a building period. During the second quarter, new site growth was outweighed by attrition from our classic playmaker sites and related to Gen II hardware. However, sequentially revenue was relatively flat, average revenue per unit increased and gross margins improved. Our rigor on investment choices and cost management programs improved net loss, yielded positive EBITDA and generated over $500,000 in quarterly cash from operations. Furthermore, to drive future sales to independents and small chains, we formed a distribution partnership with Digital Dining that sells primarily to smaller venues and through a dealer network reaching 50,000 hospitality customers. We are excited about all of these opportunities that we expect to grow long-term shareholder value."

For earnings history and earnings-related data on NTN Buzztime (NTN) click here.

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