Business
Playtika Holding Corp. Reports Q1 2023 Financial Results
Total Revenue of $656.2 million and DTC Platforms1 Revenue of $151.5 millionAverage Payer Conversion Grows to 3.6%GAAP Net Income of $84.1 million and Credit
About this update from Playtika Holding Corp.
[{"type":"text","content":"Total Revenue of $656.2 million and DTC Platforms1 Revenue of $151.5 millionAverage Payer Conversion Grows to 3.6%GAAP Net Income of $84.1 million and Credit Adj. EBITDA of $222.7 million HERZLIYA, Israel, May 04, 2023 (GLOBE NEWSWIRE) -- Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its first quarter for the period ending March 31, 2023. Financial Highlights: Revenue of $656.2 million increased 4.0% sequentially and decreased (3.1)% year over year.DTC platforms revenue of $151.5 million increased 0.9% sequentially and decreased (0.6)% year over year.Net income of $84.1 million decreased (3.9)% sequentially and increased 1.1% year over year.Credit Adjusted EBITDA of $222.7 million increased 9.9% sequentially and 12.8% year over year.Cash and cash equivalents totaled $767.2 million as of March 31, 2023. “Playtika continues to deliver personalized immersive entertainment experiences enjoyed by millions of players each day across our diverse portfolio of games,” said Robert Antokol, Chief Executive Officer of Playtika. “Our unrivaled LiveOps expertise along with our robust tech stack, including our AI powered Digital Studio, delivers unique capabilities to drive efficiencies and optimize the player experience, resulting in increased conversion and organic, sequential growth.” “The strategic decisions we made last year propelled us to enhance our margin profile while growing revenues sequentially,” said Craig Abrahams, President and Chief Financial Officer. “We will continue to efficiently invest in our technology while maximizing ROI across our portfolio, positioning ourselves to outperform in the years to come.” Selected Operational Metrics and Business Highlights Average Daily Paying Users of 326K increased 4.2% sequentially and 0.9% year over year.Average Payer Conversion of 3.6%, up from 3.5% in the prior quarter and 3.2% in the prior year period.Casual games revenue increased 7.1% sequentially and 4.1% year over year.Social casino-themed games revenue increased 0.3% sequentially and decreased (11.0)% year over year.Bingo Blitz revenue of $159.2 million increased 2.6% sequentially and 13.0% year over year.Solitaire Grand Harvest revenue of $85.5 million increased 17.4% sequentially and 29.0% year over year.Slotomania revenue of $146.6 million decreased (1.7)% sequentially and (12.1)% year over year....