Team17 expects FY underlying earnings and revenues to top expectations

Video games developer Team17 now expects full-year adjusted underlying earnings and revenues to come in ahead of market expectations.

Team17 said on Friday the raised guidance was a result of its portfolio continuing to "perform well" over the peak Christmas sales period, with a specifically strong performance from its multiplayer games on Nintendo Switch.

The AIM-listed group also stated it was continuing to develop a "solid portfolio" of new original game IP launches in 2020, with more titles to come over the next twelve months than any previous year.

The company will report its full-year results on 10 March.

As of 1015 GMT, Team17 shares had shot up 9.90% to 420.90p.