Playtika shares jump 7% after record performance 

Finance News

Playtika Holding Corp. shares were up 7% to $10.29 Tuesday after the company reported fourth-quarter earnings that beat analysts’ expectations.

The Israel-based mobile gaming company said it had quarterly earnings of $87.5 million, or 24 cents a share, compared with $102.3 million, or 25 cents a share, in the same period last year. Analysts polled by FactSet were looking for earnings of $64.2 million, or 17 cents a share.

Revenue came in at $631.2 million, compared with last year’s $649 million and the $627.5 million analysts were expecting.

Average daily paying users for the quarter came in at 313,000, compared with 311,000 last year.

Cash and cash equivalents and short-term bank deposits totaled $768.7 million as of Dec. 31.

For fiscal 2023, Playtika expects revenue of $2.57 billion to $2.62 billion, compared with the $2.62 billion analysts are expecting. Capital expenditures for 2023 are expected to be $115 million to $120 million.