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Evolution Gaming profit misses consensus by 36.3% in Q2

Evolution Gaming Group AB said its normalized net income for the second quarter came to 14 euro cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS rose 30.2% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.2 million, an increase of 30.2% from €4.0 million in the prior-year period.

The normalized profit margin fell to 19.0% from 21.9% in the year-earlier period.

Total revenue rose 49.8% on an annual basis to €27.1 million from €18.1 million, and total operating expenses grew 59.8% on an annual basis to €18.8 million from €11.8 million.

Reported net income rose 31.3% year over year to €7.6 million, or 21 cents per share, from €5.8 million, or 16 cents per share.