Q2 2024 Playtika Holding Corp Earnings Call Transcript
Key Points
- Playtika Holding Corp (PLTK) reported a net income of $86.6 million, up 63.4% sequentially and 14.4% year over year.
- Direct-to-consumer revenue grew by 5.1% year over year, led by Bingo Blitz.
- Governor of Poker 3 has shown consistent growth quarter over quarter since its acquisition.
- The company plans to launch a new game, Claire's Chronicles, in Q2 of 2025, which is expected to drive future growth.
- Playtika Holding Corp (PLTK) has a strong liquidity position with approximately $1.1 billion in cash, cash equivalents, and short-term investments.
- Overall revenue for the quarter was $627 million, down 3.7% sequentially and 2.5% year over year.
- Slotomania revenue declined by 7.5% year over year, indicating challenges in stabilizing the game.
- June's Journey experienced delays in feature launches, impacting its revenue performance.
- Sales and marketing expenses increased by 20% year over year, primarily due to increased performance marketing spend.
- Average Daily Active Users (DAU) decreased by 8% sequentially and 5.8% year over year.
Good day, and thank you for standing by. Welcome to the Playtika Q2 2024 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to turn the call over to your first speaker today, Tae Lee, SVP of Corporate Finance and Investor Relations. Please go ahead.
Welcome, everyone, and thank you for joining us today for the second-quarter 2024 earnings call for Playtika Holding Corp. Joining me on the call today are Robert Antokol, Co-Founder and CEO of Playtika; and Craig Abrahams, Playtika's President and Chief Financial Officer.
I'd like to remind you that today's discussion may contain forward-looking statements including, but not limited to the company's anticipated future revenue and operating performance. These statements and other comments are not a guarantee of future performance, but rather are subject to risks and uncertainties, some of which are beyond our control. These forward-looking statements apply as of today, and you
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