Evoke sees 2024 earnings beating expectations

(Sharecast News) - Shares in Evoke surged on Friday as the William Hill and 888 owner said 2024 core profit would be at the upper end of its forecast range and ahead of market expectations, driven by its online business and punters losing their money during the fourth quarter.

The company on Friday said it expected annual adjusted core profit to be at the top end of its previously forecast range of £300m - £310m - ahead of market expectations of £294m. Evoke shares spiked 10% at one point and were up almost 8% in London trade.

Fourth-quarter revenue grew around 12%-13% year-on-year boosted by online growth of approximately 16%-17% with a continued improvement in the growth rate across core markets and "supported by operator friendly sports results".

"As a result, revenue growth in H2 is expected to be approximately 8%, towards the higher end of the previously communicated 5-9% guidance," Evoke said in a trading update.

Reporting by Frank Prenesti for Sharecast.com

Evoke Plc