Evolution in-line Q2 print not enough to lift shares

Evolution AB (publ)

21/07/2023 08:23

** Shares in Evolution  EVOG.ST  are down 3% after the
Swedish online gaming company posted Q2 revenue and profit
roughly in line with estimates 
    ** J.P. Morgan says that given Evolution shares has recently
been trading near all time high, in-line Q2 might not be enough
to support the stock further
    ** Evolution delivered Q2 EBITDA of EUR 311.7 million 
($347.08 million) vs EUR 310.8 million seen by analysts polled
by Refinitiv
    ** The company repeated its targets on EBIDTA margin and new
game releases
    ** Today's dip brings Evolution share price to 4-mth low
    
    


($1 = 0.8981 euros)

 (Reporting by Izabela Niemiec)
 ((Izabela.niemiec@thomsonreuters.com))