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OPAP profit misses consensus by 22.0% in Q3

Greek Organization of Football Prognostics SA said its third-quarter normalized net income amounted to 9 euro cents per share, compared with the S&P Capital IQ consensus estimate of 11 cents per share.

EPS declined 37.0% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €27.3 million, a decrease of 37.1% from €43.5 million in the year-earlier period.

The normalized profit margin dropped to 20.9% from 31.9% in the year-earlier period.

Total revenue fell year over year to €131.7 million from €136.2 million, and total operating expenses grew 30.4% on an annual basis to €83.6 million from €64.1 million.

Reported net income decreased 40.3% year over year to €29.3 million, or 9 cents per share, from €49.1 million, or 15 cents per share.