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Evolution Gaming Q1 profit falls YOY

Evolution Gaming Group AB said its normalized net income for the first quarter came to 2 euro cents per share, a decline of 59.7% from 4 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €588,130, a decrease of 58.7% from €1.4 million in the prior-year period.

The normalized profit margin declined to 3.8% from 13.2% in the year-earlier period.

Total revenue rose 43.4% on an annual basis to €15.4 million from €10.8 million, and total operating expenses increased 70.7% from the prior-year period to €14.5 million from €8.5 million.

Reported net income fell 31.2% from the prior-year period to €1.4 million, or 4 cents per share, from €2.1 million, or 6 cents per share.