‘Solid’ third quarter for NetEnt as key financials climb

NetEnt has revealed year-on-year growth across various key financials during the three months to September 30.

Revenue in the third quarter amounted to SEK401m (€41.3m/$47.9m), which represents an increase of 12.3% on the SEK357m posted in the corresponding period last year.

Operating profit hiked 20.5% year-on-year to SEK156m, while operating margin improved to 38.9% and profit after tax climbed 19.4% to SEK142m.

In addition, earnings per share for the quarter before and after dilution, came in at SEK0.59, up from SKE0.50 in Q3 of 2016.

As a result of its positive performance in the third quarter, NetEnt was also able to post year-on-year financial growth for the nine months through to the end of September.

Revenue for the period totalled SEK1.2bn, up 14.3% on last year, while operating profit jumped 15% to SEK437m and profit after tax hiked 12.9% to SEK400m.

For the nine-month period, earnings per share for the quarter, both before and after dilution, improved from SEK1.48 to SEK1.67.

Per Eriksson, president and chief executive of NetEnt, said: “The third quarter was another solid quarter for NetEnt; revenues increased by 12 % and the operating margin was significantly better than in the third quarter of last year.

“Mobile games and regulated markets such as the UK, Italy and Spain contributed the most to our growth.”

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