Playtika Shares Shoot Higher On Player Conversion, Average Revenue Per DAU Growth

Playtika Holding Corp PLTK reported second-quarter FY21 revenue growth of 1.3% year-on-year to $659.2 million, beating the analyst consensus of $642.1 million.
Revenues from Casual portfolio grew 16% Y/Y, Bingo Blitz increased by 20% Y/Y, Solitaire Grand Harvest grew 61% Y/Y, and Board Kings increased by 18% Y/Y.
Average Daily Active Users (DAUs) declined 11.9% Y/Y to 10.4 million, Average Daily Playing Users (DPUs) decreased 4.8% Y/Y to 300,000, and Average Daily Payer Conversion increased 20 bps to 2.9%. ARPDAU rose 14.8% Y/Y to $0.70.
Average Monthly Active Users (MAUs) remained consistent at 36.1.
The adjusted EBITDA margin contracted 340 bps to 40.1%.
EPS of $0.22 missed the analyst consensus of $0.23.
Playtika held $1.2 billion in cash and equivalents and generated $189.9 million in operating cash flow during the six months ended Jun. 30.
Playtika announced the global launch of Switchcraft: The Magical Match 3 & Mystery Story developed by its Wooga studio in Q4 2021, CEO Robert Antokol stated.
Outlook: Playtika sees FY21 revenue of $2.6 billion against the analyst consensus of $2.62 billion.
Price action: PLTK shares traded higher by 7.09% at $23.56 on the last check Wednesday.

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