January 16, 2018 / 6:37 AM / a year ago

BRIEF-Sweden's NetEnt warns Q4 earnings to lag market forecasts

Jan 16 (Reuters) - NetEnt:

* PRELIMINARY REVENUES AND OPERATING PROFIT FOR NETENT IN THE FOURTH QUARTER OF 2017

* SAYS ‍IN Q4 2017, TOTAL REVENUES FOR NETENT AMOUNTED TO AROUND SEK 419 MILLION AND OPERATING PROFIT IS EXPECTED TO BE ABOUT SEK 150 MILLION​

* SAYS ‍THIS IS BELOW MARKET EXPECTATIONS FOR PERIOD.​

* SAYS ‍DIFFERENCE BETWEEN MARKET ESTIMATES AND PRELIMINARY OPERATING PROFIT OF NETENT IN Q4 2017 IS DUE TO LOWER-THAN-EXPECTED REVENUE GROWTH​

* SAYS ‍DURING 2017, NETENT PHASED OUT DELIVERIES OF GAMES TO OPERATORS IN AUSTRALIA, POLAND AND CZECH REPUBLIC​

* SAYS ‍IN Q4, THIS HAD A NEGATIVE EFFECT ON REVENUE GROWTH OF AROUND THREE PERCENTAGE POINTS​

* SAYS ‍FURTHER, UNDERLYING REVENUE GROWTH IN SOME OF NETENT’S MARKETS WAS LOWER THAN EXPECTED IN QUARTER.​

* SAYS ‍NETENT’S BUSINESS CONTINUED TO GENERATE A SOLID CASH FLOW IN Q4 AND DIVIDEND FOR 2017 WILL BE AT LEAST IN LINE WITH 2016 YEAR’S LEVEL​ Source text for Eikon: Further company coverage: (Stockholm Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below