NTN Buzztime (NTN) Misses Q4 EPS by 13c, Revenues Miss

NTN Buzztime (NYSE: NTN) reported Q4 EPS of $0.02, $0.13 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $5.9 million versus the consensus estimate of $6.93 million.

"Our business momentum delivered another strong quarter, including positive net income, and closed 2018 with the company's best bottom line annual performance in 24 years," said Ram Krishnan, NTN Buzztime CEO. "In 2018, we grew revenue 10%, driven by increased equipment sales while increasing cash from operations by approximately 150%. These improvements reflect the impact of our revenue diversification strategy and continued progress in all facets of the business.

"More importantly, we continue to invest for future growth by advancing our entertainment platform and bringing new offerings to the market. During 2018, we introduced our hardware platform appealing to new markets and attracting new customers. We have made progress with our SiteHub – the dramatically smaller form factor management system that improves functionality, eliminates wires and lowers costs – and are planning live beta sites in 2019. Our 'Trivia for Cash' promotions increased player engagement and boosted business at our partner locations. So, we are rolling out additional campaigns to continue with this progress. In the first quarter of 2019, we joined a new ad exchange, which broadens advertising buyer access to our inventory in multiple marketplaces. Additionally, we are in the process of launching our mobile app, which increases convenience for players and engagement for venues on- and off-premise.

"With these efforts to expand our product offering and revenue channels, we are confident in our ability to bring new sustainable growth to the company. While we continue to explore and evaluate strategic alternatives focused on maximizing shareholder value, our priority is building scalable distribution along with innovative products," concluded Krishnan.

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

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