{"id":280,"date":"2024-06-28T13:15:29","date_gmt":"2024-06-28T10:15:29","guid":{"rendered":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/"},"modified":"2024-06-28T13:15:29","modified_gmt":"2024-06-28T10:15:29","slug":"playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions","status":"publish","type":"post","link":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/","title":{"rendered":"Playtika&#8217;s Third-Quarter Earnings Decline, but Company Remains Committed to Full-Year Profit Predictions"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/kyUA90wZ99U\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Although Playtika experienced a dip in its third-quarter results, the company remains dedicated to its full-year profit predictions.<\/p>\n<p>The social gaming creator Playtika anticipates achieving its adjusted EBITDA goal, even though the company reduced its income projections following a decrease in third-quarter revenue.<\/p>\n<p>Playtika continues to be committed to its full-year earnings forecast despite the drop in third-quarter performance.<\/p>\n<p>Income for the three months ending September 30 was $630.1 million (\u00a3513.9 million\/\u20ac590.3 million), a 2.7% decrease from the same period last year. Playtika observed that several business divisions experienced declines in the quarter.<\/p>\n<p>While Playtika currently anticipates full-year income to be lower as a consequence, the company remains confident about profitability. Several recent developments in the business will also support its long-term expansion plans. At the end of the third quarter, Playtika finalized the $300 million acquisition of Innplay Labs. In August, the developer also finalized the acquisition of Azerion&#8217;s Youda Games content portfolio.<\/p>\n<p>These acquisitions follow Playtika&#8217;s unsuccessful attempt to acquire Rovio Entertainment, the developer of the Angry Birds franchise. Playtika submitted several bids for Rovio but ultimately withdrew its offer. Sega Sammy ultimately acquired Rovio in August.<\/p>\n<p>As Playtika seeks to enter new markets through new acquisitions, President and CFO Craig Abrahams stated that this will support the business&#8217;s growth plans in the fourth quarter and beyond. <\/p>\n<p>Through steadfast leadership, we continue to produce substantial free cash flow and attain robust adjusted EBITDA margins, which finance strategic, high-yield initiatives like our recent acquisitions of InnPlay Labs and Youda Games,&#8221; Abrahams stated.<\/p>\n<p>&#8220;We will continue to concentrate on utilizing our proprietary technology and on-site operations to enhance the gaming experience and boost player engagement.&#8221;<\/p>\n<p>Playtika&#8217;s third-quarter segment performance was varied.<\/p>\n<p>Looking ahead to the third quarter, while Playtika has not yet unveiled complete financial segment data, it has released preliminary information on segment performance. Revenue decreased in several core business areas compared to the same period last year.<\/p>\n<p>Casual game revenue remained unchanged year-over-year, but social casino game revenue dropped 6.6%. Bingo Blitz revenue also decreased 4.6%, Slotomania revenue fell 1.9%, but Solitaire Grand Harvest revenue grew 13.7%.<\/p>\n<p>Playtika also mentioned that average daily paying users decreased 3.5% to 299,000, but average paying user conversion rate improved 3.4% in the third quarter.<\/p>\n<p>Net profit dropped 45% to \u20ac34.9 million.<\/p>\n<p>Despite the group&#8217;s revenue decline, expenses increased. Operating costs rose 4.6% to $540.1 million. Playtika&#8217;s largest expense in the third quarter was cost of revenue, at $173.9 million.<\/p>\n<p>Interest and other net expenses reached $25.2 million, pre-tax profit was $64.8 million, down 39.7% year-over-year. Playtika paid $26.9 million in taxes and recorded $4.1 million in negative foreign currency translation. Ultimately, it was able to recover some of the funds, earning $1. <\/p>\n<p>Playtikas net earnings for the third quarter hit $34.9 million, a decline of 45.6% from the same period in 2022. This decrease was attributed to a $1 million rise in derivative fair value change gains. Despite this, adjusted EBITDA saw a 1.0% increase, reaching $205.6 million.<\/p>\n<p>Revenue for the first nine months of the year is slightly below $2 billion, with revenue reaching \u20ac1.93 billion by September 30. This represents a 2.8% growth compared to the same period in 2022.<\/p>\n<p>Operating expenses fell by 5.7% to $1.55 billion, while other expenses reached $76.9 million. Consequently, Playtikas pre-tax profit saw a 13.3% increase, hitting $304.7 million.<\/p>\n<p>Playtika paid $107 million in income taxes and recorded a negative foreign currency translation of $1.2 million. These figures were balanced by derivative fair value change gains, which reached $6.9 million for the period.<\/p>\n<p>This translates to a net profit of $204.6 million, representing an 11.6% increase. Additionally, adjusted EBITDA rose by 6.8% to $643.3 million.<\/p>\n<p>Playtika adjusted its revenue forecast, now setting it between $2.55 billion and $2.57 billion, lower than the $2.57 billion to $2.62 billion prediction made in the second quarter.<\/p>\n<p>However, the full-year adjusted EBITDA guidance has been raised to between $825 million and $832 million, exceeding the $805 million to $830 million range announced in the second quarter.<\/p>\n<p>In announcing the third-quarter results, Playtika CEO Robert Antokol acknowledged the team&#8217;s efforts and their work amidst the ongoing conflict in the Gaza Strip. Playtika is headquartered in Tel Aviv, Israel. <\/p>\n<p>Our commitment to seamless operations and providing exceptional, captivating gaming experiences remains steadfast, even in the midst of the present conflict,&#8221; stated Antokol. &#8220;Playtika&#8217;s fundamental principles are tenacity, flexibility, and flourishing.<\/p>\n<p>&#8220;Our groups in Israel and around the world are dedicated to achieving our purpose, serving our players, and generating value for our investors, even when faced with obstacles.&#8221;<\/p>\n<p>Subscribe to the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although Playtika experienced a dip in its third-quarter results, the company remains dedicated to its full-year profit predictions. The social gaming creator Playtika anticipates achieving its adjusted EBITDA goal, even though the company reduced its income projections following a decrease in third-quarter revenue. Playtika continues to be committed to its full-year earnings forecast despite the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Playtika Sticks to Profit Goals Despite Q3 Dip<\/title>\n<meta name=\"description\" content=\"Playtika remains confident in its full-year earnings forecast despite a decline in third-quarter revenue. The social gaming company is committed to achieving its adjusted EBITDA target.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Playtika&#039;s Third-Quarter Earnings Decline, but Company Remains Committed to Full-Year Profit Predictions\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Playtika remains confident in its full-year earnings forecast despite a decline in third-quarter revenue. The social gaming company is committed to achieving its adjusted EBITDA target.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Unlock the Secrets of Winning at Our Licensed Online Casino\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T10:15:29+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/\",\"url\":\"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/\",\"name\":\"Playtika Sticks to Profit Goals Despite Q3 Dip\",\"isPartOf\":{\"@id\":\"https:\/\/luckcasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-28T10:15:29+00:00\",\"dateModified\":\"2024-06-28T10:15:29+00:00\",\"author\":{\"@id\":\"https:\/\/luckcasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Playtika remains confident in its full-year earnings forecast despite a decline in third-quarter revenue. The social gaming company is committed to achieving its adjusted EBITDA target.\",\"breadcrumb\":{\"@id\":\"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/luckcasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Playtika&#8217;s Third-Quarter Earnings Decline, but Company Remains Committed to Full-Year Profit Predictions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/luckcasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/luckcasinonodepositbonus.icu\/\",\"name\":\"Unlock the Secrets of Winning at Our Licensed Online Casino\",\"description\":\"Stay ahead of the game with our up-to-date casino news, comprehensive reviews, and informative articles. Experience the best of licensed online gambling at our trusted casino.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/luckcasinonodepositbonus.icu\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/luckcasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/luckcasinonodepositbonus.icu\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"contentUrl\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"caption\":\"admin\"},\"description\":\"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.\",\"sameAs\":[\"http:\/\/theworldcasino.vip\"],\"url\":\"https:\/\/luckcasinonodepositbonus.icu\/author\/ezvhu8xt\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Playtika Sticks to Profit Goals Despite Q3 Dip","description":"Playtika remains confident in its full-year earnings forecast despite a decline in third-quarter revenue. The social gaming company is committed to achieving its adjusted EBITDA target.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/","og_locale":"en_GB","og_type":"article","og_title":"Playtika's Third-Quarter Earnings Decline, but Company Remains Committed to Full-Year Profit Predictions","og_description":"Playtika remains confident in its full-year earnings forecast despite a decline in third-quarter revenue. The social gaming company is committed to achieving its adjusted EBITDA target.","og_url":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/","og_site_name":"Unlock the Secrets of Winning at Our Licensed Online Casino","article_published_time":"2024-06-28T10:15:29+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/","url":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/","name":"Playtika Sticks to Profit Goals Despite Q3 Dip","isPartOf":{"@id":"https:\/\/luckcasinonodepositbonus.icu\/#website"},"datePublished":"2024-06-28T10:15:29+00:00","dateModified":"2024-06-28T10:15:29+00:00","author":{"@id":"https:\/\/luckcasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0"},"description":"Playtika remains confident in its full-year earnings forecast despite a decline in third-quarter revenue. The social gaming company is committed to achieving its adjusted EBITDA target.","breadcrumb":{"@id":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/28\/playtikas-third-quarter-earnings-decline-but-company-remains-committed-to-full-year-profit-predictions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Homepage","item":"https:\/\/luckcasinonodepositbonus.icu\/"},{"@type":"ListItem","position":2,"name":"Playtika&#8217;s Third-Quarter Earnings Decline, but Company Remains Committed to Full-Year Profit Predictions"}]},{"@type":"WebSite","@id":"https:\/\/luckcasinonodepositbonus.icu\/#website","url":"https:\/\/luckcasinonodepositbonus.icu\/","name":"Unlock the Secrets of Winning at Our Licensed Online Casino","description":"Stay ahead of the game with our up-to-date casino news, comprehensive reviews, and informative articles. Experience the best of licensed online gambling at our trusted casino.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/luckcasinonodepositbonus.icu\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/luckcasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/luckcasinonodepositbonus.icu\/#\/schema\/person\/image\/","url":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","contentUrl":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","caption":"admin"},"description":"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.","sameAs":["http:\/\/theworldcasino.vip"],"url":"https:\/\/luckcasinonodepositbonus.icu\/author\/ezvhu8xt\/"}]}},"_links":{"self":[{"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/posts\/280"}],"collection":[{"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/comments?post=280"}],"version-history":[{"count":0,"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/posts\/280\/revisions"}],"wp:attachment":[{"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/media?parent=280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/categories?post=280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/luckcasinonodepositbonus.icu\/wp-json\/wp\/v2\/tags?post=280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}