Fantastic results but it seems that growth is slowing. First half revenue was $1.544b, now they are saying "well in excess of $3b" for the full year. Much stronger than last year, but it seems no significant growth from the first half. That could be why they referred to "seasonality" coming back into the picture.
First half revenue growth was 63%, now full year growth is ">50%". Still amazing given the size of the revenue.
First half "profit before tax" was $308m. Now full year "operating profit" is $550m. This could be fully explained by the large "investment in customer acquisition and retention marketing" during the second half. Let's hope that investment drives even stronger results next year. The VGW marketing team does seem to know what they are doing.
I fully agree with Moloch, divvys should be up at least 50% from last year, given the 50%+ increase in profit. Seems like the buyback, if it happens, will be debt funded. So it may reduce divvys in future years as the debt is repaid, but not this year.
