Loop Media reports Q3 EPS (14c), consensus (14c)

Reports Q3 revenue $5.7M, consensus $5.5M. “I am pleased to report that we finished our fiscal third quarter stronger across all metrics than we initially announced in our guidance issued in May. In addition to achieving the forecasted approximate 20% SG&A expense reduction in the June quarter compared to our March quarter, we exceeded our revenue and gross profit margin forecasts. During the June quarter, we continued to focus on cost reductions while maintaining our attention on distribution. We also managed to secure a significant Partner Platform partner at the end of the quarter, which led to expansion in that business in the short-term,” said Jon Niermann, CEO of Loop Media.