Connect with us

CWEB Business News

Super Group Downgraded to Perform at Oppenheimer Following Q2 Results

Analysts at Oppenheimer downgraded Super Group Limited (NYSE:SGHC) to perform from outperform and removed their previous $8 price target following the company’s reported Q2 results last week.
The analysts highlighted the company’s reiterated full-year guidance, which came well-below Street estimates on Macro, Europe regulatory headwinds, and Canada’s legal transition.
Q2 revenue dropped 10% year-over-year to €320.8 million, 12% below the Street estimate, as a result of online casino net gaming revenue and brand license fee income decline, partially offset by a revenue increase in sports betting net gaming. Q2 monthly average customers grew 3% year-over-year to 2.7 million.

Follow us on Google news for more updates and News

Full Disclaimer

More in CWEB Business News



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.