Super Group Q1 Sales €379.3M Beat €369.267M Estimate
Portfolio Pulse from Benzinga Newsdesk
Super Group reported a Q1 2024 revenue of €379.3M, surpassing estimates and marking a 12% increase from the previous year, driven by growth in Africa and North America. The company's profit was €41.0M, including a significant gain from the disposal of the B2B division of Digital Gaming Corporation Limited. Adjusted EBITDA rose by 29% to €46.5M, and monthly active customers increased by 33%. Cash and cash equivalents grew to €289.2M, supported by strong operating inflows and despite outflows for investments and financing activities.
May 08, 2024 | 11:56 am
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Super Group's Q1 2024 earnings report shows significant revenue growth, a substantial profit increase, and a strong rise in active customers and cash reserves.
The positive earnings report, with revenue and profit surpassing estimates and significant growth in key markets, suggests a strong short-term bullish impact on SGHC's stock. The increase in active customers and cash reserves further supports the company's growth trajectory and financial health, making this news highly relevant and important for investors.
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