PLAYSTUDIOS Shares Soar On Q3 Results Driven By Daily Player Conversion, Spending Per Player - PLAYSTUDIO

PLAYSTUDIOS Inc (NASDAQ:MYPS) reported third-quarter FY21 revenue growth of 1.3% year-on-year to $70.6 million, missing the consensus of $72.3 million.
This year's results were driven by increases in daily payer conversion and spending per player.
Average Daily Payer Conversion rose 16.7% to 2.8% from 2.4% last year.
ARPDAU rose 20.4% Y/Y to $0.65.
EPS was $0.08. Net income more than doubled to $11.3 million.
The company plans to expand its game portfolio through acquisitions. The company's board approved a stock repurchase plan of up to $50 million of Class A common stock over 12 months.
PLAYSTUDIOS sees FY21 revenue of $282.5 million - $287.5 million below the consensus of $293.9 million.
Price Action: MYPS shares traded higher by 20.9% at $4.99 on the last check Friday.

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