Playtika faces a decline in net income despite stable revenue

  • 2 min read
Playtika faces a decline in net income despite stable revenue

Playtika has experienced a decrease in net income and earnings before taxes and interest despite revenue staying steady.

Playtika, the igaming software developer has recently published its financial results for the second quarter of the year. In the report the company unfortunately detailed a number of losses. Their net income went down from ninety million dollars last year, to just under thirty-six and a half million this year, which is a decline of over fifty million dollars. Adjusted EBITDA was measured at almost two hundred forty million, down from last year’s over two hundred sixty-four.

In contrast, the corporation’s revenue this quarter stayed nearly the same in comparison to last year, with the numbers being 659.6 million and 659.2 million dollars respectively. Additionally, the company reported being about two hundred million shy from having two billion dollars in liquid assets such as cash.

Despite all the turbulence, Playtika’s chief executive Robert Antokol stays confident, blaming the losses on difficult market conditions and stating that the organization is happy with their results in such tough circumstances.

Lastly, the report mentions a few positive highlights along with the information mentioned above, such as a growth of average payer conversion from 2.9% to 3.2% and a jump in direct consumer sales by over 14% yearly.