Tuesday, March 21, 2023 - Bragg Gaming Group Inc (BRAG) reported upside earnings and downside revenues.
Bragg Gaming Group Inc's earnings came in at an EPS loss of $0.04 per share, 56.00% higher than estimates for an EPS loss of $0.09 per share. The firm's loss per share narrowed by 56% since reporting a loss of $0.09 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.
Revenues were downbeat at $25.5 million. That is an increase of 41.48% in revenues from the year-ago report and is 5.70% lower than consensus estimates set at $27 million.
The stock is up 12.68% to $3.91 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Bragg Gaming Group Inc has performed a little below average during the past few months. Before the report, Bragg Gaming Group Inc received a Long-Term Technical Rank by InvestorsObserver of 44, putting it in the bottom half of stocks. The firm set a 52-week low on June 8, 2022 at $2.3 and set a 52-week high on March 30, 2022 at $7.94.
Bragg Gaming Group Inc is a next-generation gaming group developing into a global gaming force. Its main portfolio asset is ORYX Gaming, an innovative business-to-business gaming technology platform and casino content aggregator. The Company has one reportable operating segment namely B2B Online Gaming.