Monday November 03,2014 : BETFAIR REPORTS STRONG SECOND QUARTER RESULTS
Favourable sporting results and a 30 percent growth in active customers
Ahead of an investor and analyst presentation later today (Monday), Betfair has revealed a 22 percent increase in Q2 revenue to GBP 119 million driven by strong growth in active customers and favourable sporting results.
Taking into consideration unusually high gross win margins, Betfair still turned in a 13 percent increase in second quarter revenues, saying its active customer base was up 30 percent continuing the momentum achieved from a strong World Cup performance in the first quarter.
Breon Corcoran, chief executive officer for Betfair said: "Encouragingly, the recent growth in customer activity has continued with the active customer base up 30% in Q2. These trends, combined with favourable sporting results, have led to another strong quarter and underpin our confidence in delivering our expectations for the year."