Playtika swings to second quarter revenue jump

Finance News

Playtika Holding reported second-quarter FY21 revenue growth of 1.3% year-on-year to $659.2 million, beating the analyst consensus of $642.1 million.

Revenues from Casual portfolio grew 16% Y/Y, Bingo Blitz increased by 20% Y/Y, Solitaire Grand Harvest grew 61% Y/Y, and Board Kings increased by 18%.The company’s comprehensive income was $91.2 million, up from a loss of $137.3 million 12 months earlier. The company reiterated its previous full-year guidance for revenue of $2.6 billion.

“Our business in the second quarter accelerated across several key areas,” said Robert Antokol, Chief Executive Officer of Playtika. “We enhanced player conversion, drove revenues to our proprietary platforms and ramped up new game development, allowing us to announce our upcoming new game’s global launch ahead of schedule. With this momentum we feel optimistic about our prospects for the remainder of 2021 and beyond.”

“We were pleased to achieve organic revenue growth against a challenging comparable in the prior year quarter,” said Craig Abrahams, President and Chief Financial Officer. “Our teams utilized our live-ops capabilities to develop and leverage our Boost technology platform across our game portfolio, allowing us to re-iterate guidance for both revenue and adjusted EBITDA for 2021. We remain optimistic for the future with over $1.7 billion of available liquidity to drive our M&A initiatives.”