Bout of Bad Luck, Boosted Revenues Cause Betfair Share Price to Rise

Written by:
Aaron Goldstein
Published on:
Nov/03/2014
Bout of Bad Luck, Boosted Revenues Cause Betfair Share Price to Rise

A 22 percent revenue increase to £119m helped share prices rise nearly 3 per cent to £12.46 in early trading on strong second-quarter results.

Much of the rise in revenue directly correlated with strong World Cup results favoring the bookmaker though its active customer base also rose 30 per cent.

Breon Corcoran, Betfair's chief executive, suggested the firm’s focus during the second quarter had been on "maintaining this momentum".

And that trend is likely to continue with September revenues reported at £117.3m, up 30 per cent on the year before.  The Premier League football season is now in full swing.

- Aaron Goldstein, Gambling911.com

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