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NetEnt Reports Solid Growth In Q2 2017
NetEnt is one of the world’s leading providers of online casino games. It recently released the contents of its Q2 2017 financial reports, and the news is enough to make any investor smile.
The company enjoyed strong growth from Q1 to Q2 within this year, as well as solid year on year growth. In addition, the company made several moves with various other industry actors and seems poised to continue its hot streak into Q3 and beyond:
NetEnt By the Numbers
NetEnt’s Q2 revenues increased by $352 million, a 15.5% increase. In addition, overall operating profits were up as well with an increase of $122 million, or 18.5%. And shareholders didn’t do so bad themselves, riding the great quarter to a $0.47 earnings per share total.
NetEnt also dove into its financials for H1 2017, reveling a 15.4% increase in revenue to $897 million and an increase in operating profit of 12.2% or $253 million.
Strong Global Industry Positioning
In addition to the numbers, NetEnt recapped several moves it has made to strengthen its position within the industry. Notably for Canadian players, this included obtaining a license to operate in BC, Canada. Other notable international moves included launching games in the Serbian market and offering table games in Spain.
On the cash flow side, NetEnt enjoyed growth in a wide variety of places including Denmark, Belgium, Spain, and New Jersey’s regulated market within the United States.
Upward Trend Expected to Continue
Despite all of the good news, the most exciting was the expectation that growth will continue well into the future.
Per Eriksson, NetEnt’s President and CEO, had this to say about the results and overall future of the company:
”The quarter featured continued solid growth, higher profitability and a strong cash flow. The most important growth drivers were mobile games, Great Britain and Italy. During June, mobile games contributed more than half of our revenues while Britain was our largest geographic market for the quarter. For the second half of 2017, we see conditions for continued solid growth.”