bwin.party digital entertainment has reported an 8 per cent drop in total revenue to €165.7m for the first quarter of 2014, although the company’s results improved for the second consecutive quarter.
Net revenue fell 9 per cent to €155.4m following declines across all of the company’s product verticals, which the company again attributed to its tactical shift from 'volume to value' and ISP blocking in Greece, as well as continued competitive pressures in European poker and migration losses.
All of the company’s products saw quarter-on-quarter growth however, with net revenue up 2 per cent versus Q4 2013. It is the first time that it has posted two consecutive quarters of growth since Q2-Q4 2011.
“The business has continued to deliver sequential growth since Q3 2013 that we predicted would be the low point in terms of revenue performance,” said bwin.party CEO Norbert Teufelberger.
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