Playtika reports second-quarter earnings in line with expectations
Playtika Holding on Tuesday reported second-quarter profit of $75.7 million.
Revenue of $642.8 million decreased (2.0)% sequentially and (2.5)% year over year. Net income of $75.7 million decreased (10.0)% sequentially and increased 108.0% year over year.
Social casino-themed games revenue decreased (3.0)% sequentially and (9.9)% year over year. Bingo Blitz revenue of $156.3 million decreased (1.8)% sequentially increased 6.3% year over year.
Solitaire Grand Harvest revenue of $81.8 million decreased (4.2)% sequentially and increased 26.2% year over year. Slotomania revenue of $144.7 million decreased (1.3)% sequentially and (9.9)% year over year.
“Our operational expertise and advanced technological capabilities are drivers of our strong profitability and robust cash flow generation,” said Robert Antokol, Chief Executive Officer. “By pairing our human talent with the transformative capabilities of our proprietary technology, we unleash the full potential of our titles and are well-equipped to enhance the value of acquired assets, as with our recent Governor of Poker franchise deal.”
“We adapted to the changing mobile gaming environment early on and, as a result, are in a strong position to pursue M&A deals, like Governor of Poker, fortifying the growth profile of our portfolio,” said Craig Abrahams, President and Chief Financial Officer. “Our top casual titles showed impressive growth year-over-year and our direct-to-consumer platform generated record revenues with strong sequential and year-over-year growth. We continue to benefit from our close player relationships and LiveOps expertise and remain committed to leveraging our technological solutions and established brands to drive payer conversion.”