Mobile games developer Playtika Holding Corp. (NASDAQ:PLTK) has delivered largely in-line results for the third quarter. Revenue inched up 1.9% year-over-year to $647.8 million, a tad better than estimates by ~$7 million.
EPS at $0.17 though, fell short of consensus by $0.01. During the period, Playtika’s casual portfolio revenue increased by 14.4% while the direct-to-consumer channel registered a 9.4% growth.
The company had a substantial cash pile of $1.25 billion at the end of September. Further, it bought back shares worth $600 million in October at $11.58 per share.
Looking ahead, for the full-year 2022, Playtika sees revenue landing between $2.60 billion and $2.66 billion. Adjusted EBITDA is anticipated between $900 million and $940 million.
At the same time, short interest in the stock is running high at nearly 21% at present.
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