Online gaming group PartyGaming reported a 47 percent increase in its first-half core profit.
The owner of the PartyPoker and PartyCasino Web sites said first-half underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $380 million (202 million pounds) from $257.7 million a year earlier.
The only thing that bewilders me is that having announced such an excellent results, the share plunged more than 10% today! What is Mr. Market thinking?!? Is it because the results were in line with expectation rather than over the expectation? One should be glad that Mr. Market is bipolar and therefore, patient investors could have an opportunity to invest into the companies that one likes.
To read my previous analysis on Partgaming.
Happy investing,
Dah Hui Lau (David)
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