Allied Esports Entertainment (AESE) Misses Q4 EPS by 4c, Revenues Beat

Allied Esports Entertainment (NASDAQ: AESE) reported Q4 EPS of ($0.13), $0.04 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $6.5 million versus the consensus estimate of $5.8 million.

Commenting on the Company’s fourth quarter results, the Company’s CEO, Frank Ng, said, “Allied Esports Entertainment wrapped-up a transformational year ending with a strong fourth quarter highlighted by robust topline growth and continued execution of our strategic initiatives. Fourth quarter total revenues of $6.5 million increased 19.5% compared to the fourth quarter last year, driven by growth in both our Esports and Poker businesses. In addition to our strong financial performance, we also made significant progress in the fourth quarter with our strategic partnerships announced earlier in the year with Simon Property Group (NYSE: SPG) and TV Azteca and with this momentum, we announced a new relationship with Brookfield Properties. Our excellent fourth quarter results culminated in an impressive performance for the full year, which included a 26.5% increase in total revenue along with a 38% improvement in adjusted EBITDA from a year ago.”

Mr. Ng concluded, “Overall, 2019 was a very productive and foundational year for Allied Esports Entertainment. I want to thank everyone at the Company for their hard work and dedication during a year of significant change. Momentum is gathering and we are all looking forward to building on this success in 2020.”

For earnings history and earnings-related data on Allied Esports Entertainment (AESE) click here.

You May Also Be Interested In

• CalPrivate Bank names Andra Frazier as chief credit officer
• Yalla Group Limited (YALA) Reports Q2 EPS of $0.24
• DocGo (DCGO) Misses Q2 EPS by 6c; Offers Guidance