Playtika net income down 0.8% in Q1

Finance News

Playtika Holding reported $651.2 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 0.8%. EPS of $0.15 for the same period compares to $0.23 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $642.38 million, representing a surprise of +1.37%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.15.

“We are fully committed to execution, building on our operational advancements,” said Robert Antokol, Chief Executive Officer. “The actions we are taking, including restructuring our executive team and streamlining leadership, are designed to position us to return to growth in the mobile gaming sector, enhancing decision-making and creating potential for increased value for our players and shareholders.”

“Our direct-to-consumer business continues to show strength, driven by our focused efforts on player retention and the longevity of our players in our games,” said Craig Abrahams, President and Chief Financial Officer. “Additionally, our inaugural share repurchase authorization is consistent with our previously announced capital allocation principles, emphasizing our ongoing commitment to delivering shareholder value.”