HERZLIYA, Israel - Playtika Holding Corp . (NASDAQ:PLTK) reported third-quarter earnings that fell short of analyst expectations, sending shares down 2.5% in premarket trading Thursday.
The mobile gaming company posted adjusted earnings per share of $0.11, missing the consensus estimate of $0.18. Revenue came in at $620.8 million, slightly below analysts' projections of $622.46 million and down 1.5% YoY.
Playtika's direct-to-consumer platforms revenue grew 8.3% YoY to $174.4 million, while average daily paying users increased 0.7% to 301,000.
"Our DTC business continued to showcase strong performance this past quarter, highlighting the potential for ongoing growth by deepening engagement with our most loyal, long-term users," said Craig Abrahams, President and Chief Financial Officer.
However, the company lowered its full-year 2024 revenue guidance to a range of $2.505 billion to $2.52 billion, down from its previous outlook and below the $2.54 billion analysts were expecting.
Playtika did raise its Credit Adjusted EBITDA guidance to between $755 million and $765 million.
The company also announced it expects to close its previously announced acquisition of SuperPlay in the fourth quarter.
"This quarter marked a pivotal moment for Playtika as we entered into an agreement to acquire SuperPlay, a move that aligns perfectly with our growth strategy," said CEO Robert Antokol.
Playtika declared a quarterly cash dividend of $0.10 per share, payable on January 3, 2025.
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