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Jun 30, 2023
Playtika Q2 2023 Earnings Report
Reported a decrease in revenue but an increase in net income, driven by DTC platform growth and strategic acquisitions.
Key Takeaways
Playtika Holding Corp. reported Q2 2023 financial results with a total revenue of $642.8 million and a net income of $75.7 million. The company's DTC platforms revenue grew, and they announced the acquisition of the Governor of Poker franchise. The company expects to be at the low end of the previously provided revenue range of $2.57 to $2.62 billion, and towards the higher end of the previously provided Credit Adj. EBITDA range of $805 to $830 million.
Total revenue reached $642.8 million, a decrease of (2.5)% year over year.
DTC platforms revenue increased to $165.3 million, showing a 7.6% year-over-year growth.
Net income amounted to $75.7 million, reflecting a substantial 108.0% increase year over year.
Credit Adjusted EBITDA was $215.0 million, up by 6.7% compared to the previous year.
Forward Guidance
The company expects to be at the low end of the previously provided revenue range of $2.57 to $2.62 billion, and towards the higher end of the previously provided Credit Adj. EBITDA range of $805 to $830 million. Additionally, we now expect capital expenditures between $100 and $105 million, down from $115 to $120 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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