NetEnt Reports Lower Preliminary Revenues for Q4 2017Published January 27, 2018 by Brett C
Online gaming developer, NetEnt reported weaker than forecast quarterly results in Q4 2017. However, the president and CFO stressed that these are simply preliminary results, with actual results expected in February 2018.
NetEnt, one of the world’s leading providers of online casino games, reported lower than expected revenues for Q4 2017. The total revenues between October and December 2017 amounted to 419 million Swedish krona, significantly lower than analyst forecasts. However, NetEnt industry aficionados are not overly concerned about the actual performance of the company. They claim that the forecast figures and the preliminary totals often tend towards the lower side.
Q4 Revenues Are Subject to Change
During 2017, NetEnt stopped operating in several countries including Poland, Australia, and the Czech Republic. This of course dented the company’s bottom line, and led to 3% less revenue growth for the Swedish gaming giant. For NetEnt, share prices declined 18% in 2017, while the all share index of the Stockholm OMXS rose by 10%. The president and chief financial officer of NetEnt stated that recently released figures are simply preliminary results for the company. The final report will be issued on Thursday, 15 February 2018.
The 3-month session between October and December 2017 likely generated lower profits than estimates. The preliminary results stated that 419 million Swedish krona, the equivalent of $52.1 million was reported in Q4 2017, while operating profits of 150 million Swedish krona were generated. The company’s cash flow remains solid however.
World Leading Provider
NetEnt is a world-class provider of leading online casino games such 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™. NetEnt has also been one of the forerunners in all that has to do with branded video slots, creating popular games based on popular cultural artifacts. For example Netent's "NetEnt Rocks" series which included three popular branded video slots about Guns'N'Roses, Jimmy Hendrix and Motorhead. Their 2014 "Aliens" slot has received critical acclaim, for offering players a traditional video slot experience mixed with innovative FPS elements.