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OPAP Q3 profit falls 8.7% YOY

Greek Organization of Football Prognostics SA said its normalized net income for the third quarter amounted to 14 euro cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS fell 8.7% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €43.5 million, a decrease of 8.7% from €47.6 million in the year-earlier period.

The normalized profit margin rose to 31.9% from 19.3% in the year-earlier period.

Total revenue decreased 12.7% year over year to €215.5 million from €247.0 million, and total operating expenses fell 14.2% year over year to €143.5 million from €167.3 million.

Reported net income declined 8.5% from the prior-year period to €49.1 million, or 15 cents per share, from €53.7 million, or 17 cents per share.