**Playtika Holding Corp. Reports Second Quarter 2024 Financial Results**

**Playtika Holding Corp. Reports Second Quarter 2024 Financial Results** Playtika Holding Corp. (NASDAQ: PLTK) has announced its financial results for the second quarter ending June 30, 2024. ### Key Financial Metrics | Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change | QoQ Change | |------------------------------|--------------|------------|------------|--------------|--------------| | Total Revenue | $627.0 M | $651.0 M | $643.0 M | -2.5% | -3.7% | | Net Income | $86.6 M | $53.0 M | $75.7 M | +14.4% | +63.4% | | Credit Adjusted EBITDA | $191.0 M | $185.6 M | $215.1 M | -11.2% | +2.9% | **Financial Performance Interpretation** Playtika reported total revenue of $627.0 million for Q2 2024, representing a decline of 3.7% sequentially and 2.5% year over year. However, the net income saw a significant increase of 63.4% sequentially and 14.4% year over year, culminating in $86.6 million. The Credit Adjusted EBITDA of $191.0 million was up 2.9% sequentially, but down by 11.2% year over year. Despite the revenue decline, improved net income and EBITDA suggest effective cost management and operational efficiency. ### Revenue Performance Breakdown by Segments | Segment | Revenue | Previous Quarter | Year Over Year | |------------------------------|--------------|-------------------|----------------| | DTC Platforms | $173.7 M | $171.5 M | +5.1% | | Bingo Blitz | $155.7 M | $157.6 M | +1.9% | | June's Journey | $74.6 M | $73.2 M | +1.9% | | Slotomania | $133.8 M | $135.4 M | -7.5% | **Segment Performance Interpretation** The DTC Platforms revenue increased by 1.3% sequentially and 5.1% year over year to $173.7 million. "June's Journey" also performed well, revealing a year-over-year growth of 1.9%. However, other key games like "Bingo Blitz" and "Slotomania" saw sequential declines, indicating mixed performance across segments. ### Selected Operational Metrics | Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change | QoQ Change | |------------------------------|--------------|------------|------------|--------------|--------------| | Avg. Daily Paying Users | 298K | 309K | 307K | -2.9% | -3.6% | | Avg. Payer Conversion | 3.7% | 3.5% | 3.6% | +0.1% | +0.2% | **Operational Data Interpretation** The average daily paying users decreased to 298K, showcasing a drop of 3.6% sequentially and 2.9% year over year. Meanwhile, payer conversion increased to 3.7%, indicating slight improvement in monetization efforts. ### Comments from Management CEO Robert Antokol emphasized resilience and strategic initiatives in revitalizing the portfolio, aiming for long-term value through M&A. CFO Craig Abrahams highlighted an improved margin due to focus on direct-to-consumer business and disciplined cost management, ensuring sustained growth and profitability. ### Dividends and Share Repurchase Program Playtika's Board declared a cash dividend of $0.10 per share, payable on October 4, 2024, to stockholders of record on September 20, 2024. ### Forward Guidance For the full year 2024, Playtika expects revenue towards the lower end of the $2.52 - $2.62 billion range, Credit Adjusted EBITDA in the middle of the $730 - $770 million range, and capital expenditures between $95 - $100 million. ### Stock Price Movement Post-earnings release, Playtika's stock saw a -0.85% change. Overall, Playtika has shown resilience with solid financial metrics amidst market challenges, reflecting its strategic initiatives and disciplined operational management.