Playtika Q1 Performance, Q2 Outlook Lag Street Estimates

Playtika Holding Corp PLTK reported first-quarter FY22 sales growth of 6% year-on-year to $676.9 million, missing the consensus of $680.72 million.
Average daily payer conversion increased to 3.2%. The casual portfolio revenue grew 20.7% Y/Y, constituting 52.5% of total revenue.
The costs and expenses rose 9.4% Y/Y to $556.5 million.
The operating margin was 17.7%, and operating income for the quarter fell 7.6% to $120.4 million.
The company held $1.1 billion in cash and equivalents as of March 31, 2022.
Adjusted EBITDA fell 14.5% to $220.5 million, and the adjusted EBITDA margin contracted 780 basis points to 32.6%.
EPS of $0.20 missed the analyst consensus of $0.22.
Outlook: Playtika sees FY22 sales of $2.73 billion, below the consensus of $2.82 billion.
It expects an adjusted EBITDA of $940 million.
Price Action: PLTK shares are trading lower by 2.82% at $12.42 on the last check Tuesday.

Earnings Calendar