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Sep 30, 2023
Playtika Q3 2023 Earnings Report
Reported a decrease in revenue and net income, but an increase in DTC platform revenue, completed acquisitions of Youda Games and InnPlay Labs.
Key Takeaways
Playtika Holding Corp. reported a decrease in revenue and net income for Q3 2023, but experienced growth in DTC platforms revenue. The company completed the acquisition of Youda Games and InnPlay Labs. They are revising the revenue range to $2.550 to $2.565 billion and expect Credit Adj. EBITDA between $825 to $832 million.
Revenue of $630.1 million decreased (2.0)% sequentially and (2.7)% year over year.
DTC platforms revenue of $161.0 million decreased (2.6)% sequentially and increased 6.8% year over year.
Net income of $37.9 million decreased (49.9)% sequentially and (44.4)% year over year.
Credit Adjusted EBITDA of $205.6 million decreased (4.4)% sequentially and increased 1.0% year over year.
Playtika
Playtika
Forward Guidance
The company is revising its revenue range to $2.550 to $2.565 billion and now expects Credit Adj. EBITDA between $825 to $832 million. They expect capital expenditures of approximately $95 million.