Playtika is feeling the pressure of success. Their revenue has risen by 6% in just one quarter, and it looks like they’re not done yet!
Playtika, the world’s leading social gaming platform for kids and families released their first quarter financial results today. The company noted a 6% year-over -year revenue increase in digital products to $66 million dollars with an additional boost from advertising on our sites which increased by 36%.
While it’s not quite the success that Playtika had hoped for, their first quarter this year saw them produce nearly $677m in revenue and an almost 140% increase from last years’ earnings of $357 million dollars!
Playtika’s President and Chief Financial Officer, Craig Abrahams attributes the company’s reduced income to increased expenses related probably marketing as mentioned in this article published by Forbes online last week.
The firms’ adjusted EBITDA declined by $58 million or 40% from 2013 while they experienced an increase on employee benefit costs which account for 20%. This may be one reason behind their lower profitability but thankfully there are other factors at play like higher sales that helped outweigh these negatives so Playtika still remains profitable enough not counting any interest payments made up until now (and will continue doing).
“We are laying the groundwork for future growth by making investments in our business that support new game development, recent acquisitions and offline marketing campaigns. These efforts will position us well going forward – especially with regard to accelerating player population numbers through strong online engagement.”
Playtika’s Q1 financial performance reflected broader operational growth. It saw average daily payer conversion rise to 3%. Moreover, direct-to-consumer channel grew by 31% and now accounts for 22 5% of all revenue! For 2022 as a whole PlayTIKA expects its earnings before taxes will increase about 21%, driven largely from the company’s DTC business which has seen incredible success since launching just five years ago—a statistic that isn’t lost on investors bidding up shares this morning.
“We are proud to say that our hard work has paid off! Through innovation and dedication, we were able achieve strong revenue growth as a result of the efforts put into developing better monetization programs,” said Robert Antokol , CEO at Playtika . ” marquis events such an NFL partnership added value on top by increasing retention rates through innovative products like loot boxes.”
This message is dedicated to all of our employees who have remained resilient through the recent war in Ukraine. We are forever grateful for their sacrifice and dedication that has helped us reach market leadership status as a mobile gaming entertainment company!
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