Stars Group Q2 Profit Surges; Lifts FY17 Earnings View; Backs Revenue Forecast

(RTTNews) - Stars Group Inc., formerly Amaya Inc., (TSG, TSGI.TO), provider of technology-based gaming and interactive entertainment products, reported Wednesday that its second-quarter net earnings surged to $70.48 million from last year's $22.50 million. Earnings per share grew to $0.35 from $0.12 last year.

Adjusted net earnings per share were $0.56, compared to $0.46 a year ago.

Total Revenue increased 6.8 percent to $305.31 million from last year's $285.76 million.

Looking ahead, for the year 2017, the company lifted its adjusted net earnings forecast to $413 to $437 million from previous view of $400 to $430 million. Adjusted net earnings per share outlook was lifted to $2.01 to $2.15 from previous view of $1.94 to $2.13.

The company's revenues are still expected to be $1.20 billion to $1.26 billion, with revenues currently expected to fall at the upper end of the range. Adjusted EBITDA view of $560 to $580 million remains unchanged.