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Betsson profit misses consensus by 36.2% in Q1

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Betsson profit misses consensus by 36.2% in Q1

Betsson AB said its first-quarter normalized net income amounted to 1.12 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.76 kronor per share.

EPS increased 5.2% year over year from 1.07 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 155.6 million kronor, an increase of 5.3% from 147.8 million kronor in the prior-year period.

The normalized profit margin declined to 15.6% from 17.4% in the year-earlier period.

Total revenue increased 18.0% year over year to 1.00 billion kronor from 847.4 million kronor, and total operating expenses rose 23.0% year over year to 750.0 million kronor from 609.6 million kronor.

Reported net income grew year over year to 234.0 million kronor, or 1.69 kronor per share, from 224.1 million kronor, or 1.62 kronor per share.

As of April 20, US$1 was equivalent to 8.10 Swedish kronor.