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Evolution Gaming profit misses consensus by 36.9% in Q3

Evolution Gaming Group AB said its third-quarter normalized net income came to 14 euro cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

EPS increased 28.6% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.1 million, an increase of 29.3% from €3.9 million in the prior-year period.

The normalized profit margin fell to 17.4% from 19.8% in the year-earlier period.

Total revenue increased 47.4% year over year to €29.2 million from €19.8 million, and total operating expenses rose 55.5% on an annual basis to €21.0 million from €13.5 million.

Reported net income grew 32.0% from the prior-year period to €7.6 million, or 21 cents per share, from €5.8 million, or 16 cents per share.