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Evolution Gaming profit misses consensus by 24.5% in Q1

Evolution Gaming Group AB said its first-quarter normalized net income came to 14 euro cents per share, compared with the S&P Capital IQ consensus estimate of 19 cents per share.

EPS increased year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.2 million, an increase from €588,130 in the year-earlier period.

The normalized profit margin increased to 20.8% from 3.8% in the year-earlier period.

Total revenue grew 58.7% on an annual basis to €24.8 million from €15.6 million, and total operating expenses grew 12.6% on an annual basis to €16.5 million from €14.7 million.

Reported net income rose on an annual basis to €7.6 million, or 21 cents per share, from €1.4 million, or 4 cents per share.