Allied Esports Entertainment (AESE) Misses Q1 EPS

Allied Esports Entertainment (NASDAQ: AESE) reported Q1 EPS of ($0.37), which may not compare to the analyst estimate of ($0.12). Revenue for the quarter came in at $6 million versus the consensus estimate of $6.04 million.

Commenting on the Company’s first quarter results, the Company’s CEO, Frank Ng, said, “In the latter part of the quarter, it became clear that shelter-in-place orders would be issued in most cities in the United States and in other markets in which we operate around the globe, resulting in the temporary shut-down of the In-person pillar of our business strategy. With our team’s operational agility, we were able to rapidly pivot in the face of this adversity. We made the quick and strategic decision to shift our focus on content and online services in order to continue to serve our loyal communities and our industries at a time when they need us most.”

Mr. Ng continued, “While the COVID-19 pandemic impacted our results in the first quarter, I am reassured by the tremendous popularity of esports and poker, including WPT’s meaningful subscriber growth in March, as the nation and world remains at home. I firmly believe that our unique position will not only carry us through the difficulty and uncertainty driven by the pandemic, but will also provide an opportunity to expand our customer base once the crisis ends and life returns to normal. We look forward to continuing to serve our customers and the gaming community and emerging from this challenge as a stronger company.”

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

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