Team17 expects FY underlying earnings and revenues to top expectations
Team17 Group
235.00p
16:50 28/03/24
Video games developer Team17 now expects full-year adjusted underlying earnings and revenues to come in ahead of market expectations.
FTSE AIM 100
3,604.12
16:44 28/03/24
FTSE AIM All-Share
743.26
16:50 28/03/24
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.