NTN Buzztime (NTN) Reports Q4 Loss of $0.45, Revenues Miss

NTN Buzztime (NYSE: NTN) reported Q4 EPS of ($0.45), versus $0.02 reported last year. Revenue for the quarter came in at $5.2 million versus the consensus estimate of $7.16 million.

Allen Wolff, CEO, said, "During the fourth quarter, we gained traction with Buzztime Basic, our lighter mobile-based, in-venue solution that complements our full featured Buzztime Elite offering, and we shipped the first installment of a substantial hardware contract. Our programmatic advertising continues to grow and augment our subscription revenue. We are proud 2019 closed with these significant operational accomplishments and our fourth consecutive year of positive EBITDA.

"In January 2020, we seized the opportunity to monetize a non-core business and sold our hosted-events asset. We will continue to explore all types of go-to-market partnerships and to prioritize our most compelling opportunities to leverage our foundation for scalable growth. The economic and market conditions throughout the United States and the world have been dynamic and evolving as a result of the COVID-19 pandemic. Its effect on the restaurant and bar industry has been rapid, and its scope and magnitude is uncertain. We will continue to monitor the situation and evaluate steps we can take to respond to its effects. In 2020, we will remain focused on growing our digital entertainment and hardware businesses in an efficient manner and are evaluating financing alternatives to better position us to do so."

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

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