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Charge boosts Millennial’s loss
Charge boosts Millennial’s loss
Listen to this articleMillennial Media, of Baltimore, a mobile advertising company, reported a net loss of $109.4 million, or $1.02 per share, for the third quarter, which includes a $93.5 million impairment charge. The charge was “based on a substantial decline in its stock price and market capitalization resulting in an excess of the book value of the company’s net assets compared to the estimated fair value,” Millennial said this week. Even without the impairment charge, Millennial’s loss increased over last year — it was $15.9 million, or 15 cents per share, compared with a loss of $4.6 million, or 6 cents, for the same quarter in 2013. Revenue was up in the quarter — $69.8 million, compared with $56.1 million for the same period in 2013.
