|The Woodland Hill, California based Youbet.com which provides thoroughbred, quarter-horse and harness horse racing content in the U.S took a beating from Wall Street when it disclosed its second-quarter results.|
Youbet missed analysts expectations by 2 cents when it reported a loss of 4 cents a share or $982,000 compared to last yearís loss of $2.28 million, or 13 cents a share. EBITDA or Earnings before interest, taxes, depreciation and amortization were $606,033, compared with last year's loss of $1.04 million.
Net revenue was $4.7 million, compared with $2.3 million in the second quarter last year. The companyís shares are currently trading at $3.17 on the Nasdaq and are down by 14%.