By Connor Hart
Motorsport Games swung to a profit in the first quarter, though revenue fell. The racing game developer posted net income of $1 million, or 33 cents a share, for the March quarter, compared with a loss of $1.7 million, or 61 cents a share, a year earlier. Sales fell 42% to $1.8 million. CEO Stephen Hood said the company will look to capitalize on growth opportunities within its existing portfolio of games, while also exploring new product opportunities. Shares fall 2.8%, to $2.42, in after-hours trading.
NI Holdings said net income fell to $6.5 million, or 31 cents a share, in the first quarter, compared with $6.9 million, or 33 cents a share a year earlier. The insurance holding company said direct written premiums fell 18% to $67.7 million, while net earned premiums declined 3.4% to $67.5 million. "While overall top-line direct written premiums decreased year-over-year, the reduction was driven by accelerated execution of aggressive strategic actions focused on returning our Non-Standard Auto segment to profitability," CEO Seth Daggett said. Shares tumble 12%, to $11, in post-market trading.
Magic Empire Global filed to sell up to 15 million shares of its Class A ordinary shares. The Hong Kong-based financial services provider didn't say how much it would sell the shares for, and said instead that the public offering price for securities in the offering would be determined at the time of pricing. Shares sink 5.9%, to $1.59, in after-hours trading.
Delta Air Lines and Korean Air Lines will take stakes in Canadian airline WestJet in deals valued at $550 million. The airlines said the agreement will strengthen connectivity between Canada and North America, Europe and Asia. The deal is a setback for American Airlines, which had led another group of airlines vying for a stake in the Canadian carrier, The Wall Street Journal reported, citing people familiar with the matter.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 09, 2025 18:48 ET (22:48 GMT)
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