Business
Playtika Holding Corp. Reports Third Quarter 2022 Results
Third Quarter Revenue Grew to $647.8 million, up 1.9% Year-over-YearCasual Portfolio Revenue Grew 14.4% year-over-year and is now 54.9% of
About this update from Playtika Holding Corp.
[{"type":"text","content":"Third Quarter Revenue Grew to $647.8 million, up 1.9% Year-over-YearCasual Portfolio Revenue Grew 14.4% year-over-year and is now 54.9% of RevenueDirect-to-Consumer Channel Grew 9.4% Year-over-Year and is now 23.3% of Revenue HERZLIYA, Israel, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its third quarter for the period ending September 30, 2022. Third Quarter 2022 Financial Highlights: Third quarter revenue was $647.8 million(1) compared to $635.9 million in the prior year period.Net income was $68.2 million compared to $80.5 million in the prior year period.Credit Adjusted EBITDA, a non-GAAP financial measure defined below, was $203.5 million compared to $217.0 million in the prior year period.Adjusted EBITDA, a non-GAAP financial measure defined below, was $230.7 million compared to $247.8 million in the prior year period.Our cash and cash equivalents totaled $1,255.4 million as of September 30, 2022.In October we purchased $600 million of shares via Tender Offer at a price of $11.58, which has reduced outstanding shares by approximately 51.8 million shares. “Playtika’s casual games performed exceptionally well. Bingo Blitz, Solitaire Grand Harvest, and June’s Journey achieved double-digit growth year-over-year and we are very pleased with their continued success,\" said Robert Antokol, Chief Executive Officer of Playtika. “We believe we are well positioned for the future as we develop exciting, new features for our games and drive our strategic initiatives focused on technology and digitization to build on our leadership position in mobile games.” “We are encouraged by the growth of our casual portfolio and will continue to invest responsibly in our strongest franchises,” said Craig Abrahams, President and Chief Financial Officer. “As we look to further optimize our business model, we are operating our studios with a focus on innovation and efficiency while generating robust free cash flow.” Highlights Casual portfolio grew revenue 14.4% year-over-year, comprising 54.9% of total revenueSocial Casino portfolio revenue declined 10.2% year-over-year, comprising 45.1% of total revenueAverage DPUs increased 5.8% year-over-yearJunes Journey grew revenue 32.5% year-over-yearBingo Blitz grew revenue 14.7% year-over-yearSolitaire Grand Harvest grew revenue 14.3% year-ove...