Catena Media Projects Record Q2 Earnings Despite COVID-19
Notwithstanding the effects of the COVID-19 outbreak, Catena Media forecasts unprecedented earnings and gains for the second quarter of 2020.
The affiliate marketing firm projects income for the period of April to June to hit €27.7 million (roughly $31.7 million), a 17% rise year-over-year. Adjusted EBITDA is predicted to land between €14.5 million and €14.8 million, signifying a new quarterly earnings high and a 52% jump from 2019.
Catena ascribes the income and profit surge to robust results in its casino sector, which witnessed its revenue portion expand due to the suspension of sporting competitions from March to May. The affiliate marketer had signaled back in March that it would prioritize online casino to counterbalance the absence of live sports, with both its AskGamblers and Japanese enterprises attaining record revenue quarters.
Catena’s sports wagering division was unavoidably affected by the pandemic but experienced an upswing toward the quarter’s conclusion with the resumption of all major soccer leagues. Overall new depositing clients (NDCs) were lower by 13% for the quarter, yet still elevated 4% year-over-year to 104,000.
“The second quarter has presented difficulties due to the extraordinary worldwide circumstances, and we are thus delighted to report that the measures implemented within the company have yielded the best quarter to date for the company,” stated Catena Media CEO Per Hellberg.
Q2 financial results for Catenas will be released on August 19th. Don’t forget!