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Betsson profit misses consensus by 16.3% in Q3

Betsson AB said its third-quarter normalized net income amounted to 1.22 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.46 kronor per share.

EPS increased year over year from 1.18 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 169.4 million kronor, a gain from 164.3 million kronor in the year-earlier period.

The normalized profit margin dropped to 15.9% from 16.9% in the year-earlier period.

Total revenue rose 9.3% year over year to 1.06 billion kronor from 972.9 million kronor, and total operating expenses climbed 10.9% on an annual basis to 790.3 million kronor from 712.6 million kronor.

Reported net income grew year over year to 254.1 million kronor, or 1.84 kronor per share, from 247.0 million kronor, or 1.78 kronor per share.

As of Oct. 20, US$1 was equivalent to 8.87 Swedish kronor.