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NetEnt Preliminary Q4 2017 Revenues Lower Than Expected
- January 31, 2018 By Riley Wilson -
Sweden-based provider of online casino content NetEnt has revealed its Q4 2017 revenues, which weren’t as high as market analysts initially estimated.
During the three-month period ending on December 31, 2017, NetEnt grossed $53.2 million, and while this amount may seem decent enough, it’s way lower than expected. In addition to this, it was announced the company’s operating profit was at $19.03 million, while the cash flow remained solid.
Experts estimated that corporate revenues would be around $56.7 million, while the targeted operating profit for the year’s fourth quarter was at $21.6 million.
Officials Not Worried
However, NetEnt’s governance is not too upset because of these results, especially since the preliminary figures tend to be lower than they actually are.
It’s important to point out that NetEnt ceased its operation in a number of markets worldwide, including Poland, Australia, and the Czech Republic, which had a significant influence on the overall results of the Swedish gaming giant. Revenue growth was 3% less, while the company’s share prices dropped by 18%.
On the other hand, NetEnt’s President and the firm’s Chief Financial Officers stated these were only preliminary results and added the company would wait until the final reports were revealed. The final report is scheduled to be released on February 15, 2018.
NetEnt also announced the corporate 2017 full-year results would be published on April 2, 2018.
Still, it is likely that revenue recorded during the period between October won’t meet the company’s expectation.
More Information About the Company
Founded in 1996, NetEnt is one of the biggest names in the online gaming industry. With more than 700 employees, the Stockholm-headquartered provider offers its extensive portfolio of high-quality video slot games to a number of world-class operators.
Known as Net Entertainment before May 2015, the company is listed on the Stockholm Stock Exchange.
The list of NetEnt releases includes such games as Gonzo’s Quest, Planet of the Apes, Starburst, Twin Spin Deluxe, Jack and the Beanstalk, Jack Hammer 2, The Invisible Man, and Wild Wild West: the Great Train Heist.