Amaya posts 5.9 per cent rise in Q4 revenue, adjusted earnings above analyst estimates

Amaya posts 5.9 per cent rise in Q4 revenue, adjusted earnings above analyst estimates

MONTREAL — The Montreal-based parent of PokerStars and other online gaming operations is reporting improved financial results that are above analyst estimates.

Amaya Inc. (TSX:AYA) swung to a US$45 million net profit for the fourth quarter from a year-earlier net loss of $15.2 million.

Revenue increased 5.9 per cent to US$310.4 million, from US$293.2 million in the fourth quarter of 2015.

Amaya’s net income was equal to 23 cents per share, in U.S. currency.

Adjusted earnings for the quarter were up 30 per cent to US$107 million or 53 cents per share.

That’s three cents above a consensus estimate compiled by Thomson Reuters. Revenue was also slightly above the analyst estimates.

For the full year, Amaya is reporting US$366.7 million of adjusted earnings — at the low end of revised guidance announced in January but above the November estimate of between $344 million the $354 million.

Amaya is also estimating that this year’s adjusted earnings will rise to between $400 million and $430 million, or between $1.94 and $2.13 per share for the year ending Dec. 31. That’s also above the consensus estimate of $1.84 per share.

The Canadian Press

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This news article is kindly supported by the Voice of English-speaking Québec 2017 SpringFest 5 @ 7.

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