Otello Swings To Profit In H1

(RTTNews) - Otello Corp. ASA (OTEC.OL, OPESF), a Norwegian internet company, on Thursday reported its profit in the first half compared with the loss in the previous year.

For the first half, profit came in at $58.52 million compared with loss of $13.70 million in the previous year.

Earnings per share were $0.59 versus loss per share of $0.10 last year.

Adjusted EBITDA narrowed to $1.29 million from $1.62 million in the prior year.

Operating profit came in at $41.59 million compared with loss of $12.45 million in the prior year.

Otello closed trading, 0.75% lesser at NOK 13.20 on the Oslo Stock Exchange.