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Betsson profit misses consensus by 32.8% in Q2

4988430 said its second-quarter normalized net income came to 71 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 1.05 kronor per share.

EPS declined 26.4% year over year from 96 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 97.8 million kronor, a decline of 26.3% from 132.7 million kronor in the year-earlier period.

The normalized profit margin dropped to 10.5% from 15.4% in the year-earlier period.

Total revenue grew 8.7% on an annual basis to 935.4 million kronor from 860.6 million kronor, and total operating expenses climbed 20.2% on an annual basis to 777.2 million kronor from 646.8 million kronor.

Reported net income fell 27.4% from the prior-year period to 146.4 million kronor, or 1.06 kronor per share, from 201.6 million kronor, or 1.46 kronor per share.

s of July 21, US$1 was equivalent to 8.61 Swedish kronor.Betsson AB

4988430 said its second-quarter normalized net income came to 71 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 1.05 kronor per share.