Evolution slumps on 'weak' Q2 earnings
** Evolution EVOG.ST slumps 8% after the Swedish online gaming company missed Q2 top-line and earnings expectations
** Its EBITDA of EUR 346 million is 4% below consensus cited by Pareto analyst Georg Attling, while its 68% EBITDA margin missed the consensus by 1.3 percentage point
** The analyst says beats in other regions could not offset particularly weak growth in Asia and a slight miss on expectations in North America
** Evolution also announced an acquisition, share buyback and a new capital allocation framework
** "While we consider these initiatives sound, they will not be enough to offset the weak earnings," said Attling
** Its peer Betsson BETSb.ST, whose Q2 report is slightly ahead of expectations according to Attling, falls 5.7%
Reporting by Agata Rybska
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