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Betsson profit misses consensus by 31.3% in Q2

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Betsson profit misses consensus by 31.3% in Q2

Betsson AB said its second-quarter normalized net income was 98 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 1.43 kronor per share.

EPS climbed 15.7% year over year from 85 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 135.7 million kronor, an increase of 15.8% from 117.2 million kronor in the prior-year period.

The normalized profit margin fell to 15.4% from 15.6% in the year-earlier period.

Total revenue increased 14.4% on an annual basis to 860.6 million kronor from 752.3 million kronor, and total operating expenses rose 14.3% on an annual basis to 642.0 million kronor from 561.9 million kronor.

Reported net income grew 14.2% year over year to 201.6 million kronor, or 1.46 kronor per share, from 176.6 million kronor, or 1.28 kronor per share.

As of July 17, US$1 was equivalent to 8.63 Swedish kronor.