PLTK - Playtika slides 10% to record low as fewer DAUs casino game weakness weigh on results
- Playtika ( NASDAQ: PLTK ) stock slid 10.2% to a record low on Tuesday after the mobile gaming firm reported fewer daily average users and weakness in casino-themed games during Q3.
- However, Q3 results were largely in line with expectations .
- Daily average users declined 13.5% Y/Y to 9M, while monthly average users fell 14.7% to 30.2M.
- Playtika ( PLTK ) reported Q3 EPS of $0.17 vs. $0.20 in Q3 2021, while revenue rose 1.9% to $647.8M.
- Casual portfolio revenue grew 14.4%, comprising 54.9% of total revenue.
- But social casino portfolio revenue declined 10.2%, hurt by results in Slotomania and House of Fun.
- Slotomania revenue fell 12.7%, driven in part by new features that did not resonate with players, while House of Fun revenue was down 21.2%.
- For 2022, Playtika ( PLTK ) expects revenue to be within its prior guidance of $2.60B- $2.66B and adj. EBITDA to be $900M-$940M.
- Shares of Playtika ( PLTK ) declined ~51% YTD.
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Playtika slides 10% to record low as fewer DAUs, casino game weakness weigh on results