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GDEV Inc. (GDEV) Tops Q3 Earnings and Revenue Estimates
GDEVGDEV (GDEV) ZACKS·2024-11-14 17:05

Core Viewpoint - GDEV Inc. reported quarterly earnings of 0.79pershare,significantlyexceedingtheZacksConsensusEstimateof0.79 per share, significantly exceeding the Zacks Consensus Estimate of 0.38 per share, but down from 1.20pershareayearago,indicatinganearningssurpriseof107.891.20 per share a year ago, indicating an earnings surprise of 107.89% [1] Financial Performance - GDEV Inc. achieved revenues of 110.66 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 6.56%, although this is a decline from year-ago revenues of 121.3million[2]−Overthelastfourquarters,thecompanyhasexceededconsensusEPSestimatestwotimesandtoppedconsensusrevenueestimatesonlyonce[2]StockPerformance−GDEVInc.shareshaveincreasedapproximately17.7121.3 million [2] - Over the last four quarters, the company has exceeded consensus EPS estimates two times and topped consensus revenue estimates only once [2] Stock Performance - GDEV Inc. shares have increased approximately 17.7% since the beginning of the year, compared to a 25.5% gain in the S&P 500 [3] Future Outlook - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates indicating breakeven on 111.6 million in revenues for the upcoming quarter and 0.60on0.60 on 429.93 million in revenues for the current fiscal year [4][7] - The estimate revisions trend for GDEV Inc. is currently mixed, resulting in a Zacks Rank 3 (Hold), suggesting the shares are expected to perform in line with the market in the near future [6] Industry Context - The gaming industry, to which GDEV Inc. belongs, is currently ranked in the bottom 44% of over 250 Zacks industries, indicating potential challenges ahead as the top 50% of Zacks-ranked industries tend to outperform the bottom 50% by more than 2 to 1 [8]