Betsson Q3 revenue rebounds after “temporary” Q2 challenges

Swedish betting operator Betsson AB rebounded from its dismal Q2 performance by posting healthy revenue and earnings gains in Q3 2016.

Figures released Thursday covering the three months ending September 30 show Betsson’s revenue rising 9% year-on-year to SEK 1.06b (US $120m), earnings up 5% to SEK 273m and net income gaining 3% to SEK 254m.

The results stand in stark contrast to Betsson’s second quarter figures, advance news of which resulted in a one-third decline in the company’s share price. Betsson CEO Ulrik Bengtsson said Q3’s strong performance indicated that the company’s Q2 challenges were “of a temporary nature.”

Betsson’s mainstay online casino revenue jumped 11% to just under SEK 732m while sportsbook revenue rose 9% to SEK 300m. Mobile’s share of the revenue pie grew 55% to SEK 504m, representing 47% of the total.