NetEnt Q3 Financial Results Reveal Solid YOY Growth

NetEnt Q3 Financial Results Reveal Solid YOY Growth

The NetEnt Q3 financial results have been revealed in the company’s recent report of its third quarter performance. The results revealed solid YOY (year-on-year) growth across multiple verticals including revenue and operating profit.

The third quarter, which includes the months July, August and September, was a strong one for the Swedish-based iGaming software company. NetEnt’s revenues for Q3 increased by 12.3% to 401 million SEK. Operating profit also received a boost and totaled to 156 million SEK, a 20.5% increase.

Furthermore, earnings per share for Q3, before and after dilution, were 0.59 SEK, which is up from last year’s 0.50 SEK in Q3 2016.

Additionally, during the third quarter period, NetEnt signed eight new customer agreements and ten of its new customers launched casinos.

UK & Italy were responsible for most of the growth

According to NetEnt, UK and Italy were the two markets that contributed the most to its growth during Q3. However, close on the heels of these markets were Spain and Denmark.

Commenting on the NetEnt Q3 results, Per Eriksson, president and CEO of NetEnt, stated that “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.”

Eriksson added that mobile games also continued to be an important part of the company’s growth factor and accounted for 52% of total revenues during the third quarter period.

“The future outlook remains bright and for the remainder of 2017, we see conditions for continued solid growth supported by new games, increasing market shares in the UK, mobile growth, many new customers to launch and our expansion in North America.”

About The Author

As both a player and a fan of strategy analysis in the area of online gambling, my goal is to share the latest information and news about online casinos and the games that they offer. My background was originally in writing guidebooks for the individual games, as well as for tournaments, but after a decade of that, I chose to expand my experience to writing honest, objective, and helpful articles.

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