Modern Times Group MTG AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 20, 2022 at 11:00 am IST
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Modern Times Group MTG AB (publ) reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was SEK 1,379 million compared to SEK 810 million a year ago. Net income was SEK 6,265 million compared to net loss of SEK 26 million a year ago. Basic and diluted loss per share from continuing operations was SEK 0.73 compared to earnings per share from continuing operations of SEK 0.60 a year ago. Basic earnings per share was SEK 56.88 compared to loss of SEK 0.26 a year ago. Diluted earnings per share was SEK 56.74 compared to loss of SEK 0.26 a year ago.
For the six months, sales was SEK 2,736 million compared to SEK 1,578 million a year ago. Net income was SEK 5,973 million compared to net loss of SEK 151 million a year ago. Basic loss per share from continuing operations was SEK 1.74 compared to earnings per share from continuing operations of SEK 0.49 a year ago. Diluted loss per share from continuing operations was SEK 1.73 compared to earnings per share from continuing operations of SEK 0.49 a year ago. Basic earnings per share was SEK 53.87 compared to loss of SEK 1.57 a year ago. Diluted earnings per share was SEK 53.74 compared to loss of SEK 1.57 a year ago.
Modern Times Group MTG AB is a Sweden-based entertainment company. The Company operates in two segments: Esport and Gaming. The Esport segment is made up of ESL, Dreamhack and MTG VC-fundâs investments in esport related companies. Through ESL and Dreamhack,the Company operates national and international tournaments as well as grassroots amatuer cups, leagues and festivals. The Gaming segment is made up of InnoGames, Kongregate and MTG VC-fundâs investment in gaming-related companies. InnoGames is publisher of mobile and on-line games. InnoGamesâ complete portfolio encompasses seven live games and several mobile titles in production. InnoGames is focused on the free-to-play segment and provides players with a cross-platform experience on PC and mobile devices. Kongregate is mobile game publisher and developer. The Company operates worldwide.