NetEnt claims record revenue and profit in third quarter

Per Eriksson, chief executive of NetEnt, has paid tribute to the company after it was able to achieve record levels of revenue and profit in the three months through to September 30.

The software developer’s revenue in the third quarter totalled SEK279.8 million (€29.7 million/$33.6 million), a figure that represents a 28.8% increase on the SEK217.2 million posted in the corresponding period last year.

Operating profit jumped by 43.5% to SEK105.2 million, while operating margin increased to 37.6%.

Elsewhere, profit after tax came in at SEK97.6 million, an increase of 44.5% on the previous year, while earnings per share before and after dilution increased from SEK1.69 to SEK2.44.

NetEnt’s performance in the third quarter boosted its overall results for the nine months through to the end of September.

Revenue for the first three quarters of the year amounted to SEK809.3 million, an increase of 32.5% on the same period in 2014.

Operating profit grew 54.3% to SEK 279.8 million, operating margin was up to 34.6%, while profit after tax hiked 55.5% to SEK258.3 million.

“The third quarter featured new record levels in both revenues and profits,” Eriksson said.

“We reached a historic milestone as our games became available on the regulated market in New Jersey, USA, for the first time.

“A key part of our growth strategy is to enter new regulated markets and during the quarter our market entry in the US state of New Jersey continued at full speed.

“With regards to game releases, we keep producing at least one new title a month for all our customers, while we also develop customised games at a growing pace.

“We continue to sign up new operators, while the number of customers to be launched stood at 26 at the end of the quarter, which should support our growth going forward.”

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