Mobile game developer Playstudios' Q4 revenue falls, net loss narrows
Overview
U.S. mobile games developer's Q4 revenue fell yr/yr
Company reported Q4 net loss narrowed from prior year
Outlook
Company did not provide specific guidance for future quarters or the full year in its press release
Result Drivers
LEGACY PORTFOLIO PRESSURE - Co said continued contraction in its legacy social casino portfolio weighed on revenue
DIRECT-TO-CONSUMER GROWTH - Direct-to-consumer revenue rose 76.7% yr/yr in Q4, helping offset some pressure in other channels
Company press release: ID:nBw1wlqrha
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue |
| $55.4 mln |
|
Q4 Net Income |
| -$13.69 mln |
|
Q4 Pretax Profit |
| -$12.61 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for PLAYSTUDIOS Inc is $1.75, about 243.1% above its March 13 closing price of $0.51
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