Net Ent First Quarter Financials Rise

Swedish developer NetEnt has published their first quarter 2018 financial results, revealing that performance rose, this coming after the company fired their CEO for lack of performance.

Key financial indicators for the first quarter ending March 31st, 2018 were:

  • Revenues of SEK430 million, up from SEK393 million last year
  • Operating profits of SEK134 million, up from SEK127 million last year
  • Margins of 31.2%
  • Post-tax profits up to SEK146 million

Acting CEO Therese Hillman spoke about the results, revealing: "While NetEnt continues to focus on growth, measures were initiated in March to enable margin expansion going forward.

"Among other things, the company is taking action to reduce costs; for the remainder of the year, we see conditions for better growth, supported primarily by regulated markets, more new games and new customers.

"We continue to work on optimising the organisation and to make sure that revenues grow more than costs."

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bgsharpe
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24 April 2018 - 5:56pm
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Maybe they've expected a higher numbers but in the end it's a competitive business and probabley NetEnt didn't do oe well in the past months in marketing terms and as a whole too, there's a lot more good developers now than a few years back when NetEnt were definitely one of the two top brands out there, some could say they still are.