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Swedish software giant NetEnt has shown a 14.3% increase year on year in its overall revenues in Q3 of this year, with a total of €120.6 million earned by the company during the quarter.There is no doubt that NetEnt is one of, if not the biggest name in software development, and their constant stream of slots which all seem to be met with huge critical acclaim is a testament to that, as is the increase in revenue in 2017.
The break down
Profits recorded in Q3 by NetEnt amounted to €40.1 million, an impressive 12.3% increase compared to the previous quarter. Profits after tax deductions saw an even greater rise, up 19.3% to €14.2 million.The main two reasons that revenues continued to grow in Q3 were firstly because of mobile play, NetEnt’s Touch games are amongst the most popular mobile games, and 52% of total revenue in Q3 came from mobile play, and secondly because of new games.NetEnt is relentless with their new releases, and Q3 saw the likes of Emoji Planet, The Legend of Shangri-La: Cluster Pays, and Wolf Cub, three very different slots that all found instant popularity.It could be assumed that growth will be seen again in the fourth quarter as innovative and exciting slots like Finn and the Swirly Sin and Planet of the apes have already been released by NetEnt this quarter.
What’s next?
NetEnt has done a good job of increasing its global presence, in the UK and Italy mainly, as well as Spain, with their eyes on the US as the next market to crack, following on from their good work in New Jersey.Per Eriksson, CEO of NetEnt, believes that 2017 and beyond will see the company continue to grow in size and revenue, and it’s hard to argue with him!