Shares of Evoke of LON:EVOK jumped over 9% recently. This is after the sports betting and gambling giant said that its full-year earnings are expected to exceed market forecasts.
The sports betting and gambling giant expects its full-year earnings to exceed market forecasts. This includes William Hill, 888, Mr Green.
Evoke reported strong Q4 revenue growth of 12-13%. This reaches 13-14% in constant currency.
In a note, analysts at Jefferies said that they continue to see material longer-term equity upside as leverage decreases.
The online segment led with 16-17% growth, driven by improved core markets and favorable sports results. In constant currency, growth was 18-19%.
Exceeding the lower end of the 5-9% guidance range, strong Q4 performance drove second-half revenue growth to approximately 8%.
In a statement, the company said that strong cost control and an increasingly efficient operating model will keep adjusted EBITDA at the high end of the previously communicated guidance range of £300-310 million for the full year. This is well ahead of market expectations.
In a statement, Per Widerström, chief executive of Evoke said that the company is transforming its business by aligning its leading brands with clearer customer value propositions.
Representing 90% of Q4 revenue, five core markets are central to this strategy. Widerström added that the company is focused on operational excellence to improve profitability and reduce debt.
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