Team17 expects revenues and earnings to come in ahead of expectations

Video games developer Team17 has continued to experience "strong customer traction" from both new and established titles so far this year and now expects both full-year adjusted underlying earnings and revenues to come in ahead of market expectations.

Team17 told investors on Tuesday that its strong first-half performance had been driven by continued sales momentum in its back catalogue, a solid performance across an array of new release titles and the recognition of a higher proportion of revenues relating to licensing income.

The AIM-listed firm, which had a busy release schedule in the first half and launched a number of new titles, also announced several new partnerships, including ones with Blacklight Interactive, Hermes Interactive and The Game Kitchen.

Team 17 also highlighted that recognition of the quality of its games had continued into 2019, with Yoku's Island Express being awarded the BAFTA for Best Debut Game in April 2019.

As of 0940 BST, Team17 shares had shot up 10.32% to 272.50p.