Sweden's Stillfront Q3 revenue falls 6% on declines in non-core games
Sweden's Stillfront Q3 revenue falls 6% on declines in non-core games
Overview
Sweden gaming firm's Q3 revenue declined 6% yr/yr with -1% organic growth
Adjusted EBITDAC for Q3 fell 16% and margin narrowed to 28% from 32%
Growth in key franchises offset declines in other games managed for cash generation
Outlook
Company did not provide specific guidance for future quarters or the full year in its press release
Result Drivers
KEY FRANCHISE GROWTH - Co said organic growth in key franchises, led by BIG, Empire and Board, helped offset declines in other games
DECLINES IN NON-CORE GAMES - Co attributed overall revenue decline to continued decreases in other games managed for cash generation
Company press release: ID:nMFN7MF6Lg
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| SEK 1.29 bln |
|
Q3 EPS |
| SEK 0.18 |
|
Q3 Net Income |
| SEK 95 mln |
|
Q3 EBIT |
| SEK 247 mln |
|
Q3 Gross Profit |
| SEK 1.07 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Stillfront Group AB (publ) is SEK10.25, about 73.7% above its October 22 closing price of SEK5.90
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 3 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)