Business
Playtika Holding Corp. Reports Q2 2023 Financial Results
Total Revenue of $642.8 million and DTC Platforms Revenue of $165.3 millionDTC Platforms Revenue Grows 9.1% Sequentially and 7.6% Year Over YearGAAP Net
About this update from Playtika Holding Corp.
[{"type":"text","content":"Total Revenue of $642.8 million and DTC Platforms Revenue of $165.3 millionDTC Platforms Revenue Grows 9.1% Sequentially and 7.6% Year Over YearGAAP Net Income of $75.7 million and Credit Adj. EBITDA of $215.0 millionAnnounces Acquisition of Governor of Poker Franchise HERZLIYA, Israel, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its second quarter for the period ending June 30, 2023. Financial Highlights: Revenue of $642.8 million decreased (2.0)% sequentially and (2.5)% year over year.DTC platforms revenue of $165.3 million increased 9.1% sequentially and 7.6% year over year.Net income of $75.7 million decreased (10.0)% sequentially and increased 108.0% year over year.Credit Adjusted EBITDA of $215.0 million decreased (3.5)% sequentially and increased 6.7% year over year.Cash and cash equivalents totaled $955.1 million as of June 30, 2023. “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.” Selected Operational Metrics and Business Highlights Average Daily Paying Users of 307K decreased (5.8)% sequentially and (1.0)% year over year.Average Payer Conversion of 3.6%, flat vs. the prior quarter and increased from 3.2% in the prior year period.Casual games revenue decreased (1.4)% sequentially and increased 3.7% year over year.Social casino-themed games revenue de...