Playstudios reports Q2 EPS (1c), consensus (4c)

Reports Q2 revenue $77.8M, consensus $77.12M. Andrew Pascal, Chairman and Chief Executive Officer of PLAYSTUDIOS, commented, “Our momentum continued in the second quarter of 2023 as we posted another solid quarter. Revenue and AEBITDA were well ahead of year ago results and exceeded Wall Street’s expectations for the third consecutive quarter. Similar to the first quarter, building momentum in our portfolio of games, increased focus on execution, and cost discipline are driving the results. Our AEBITDA margins grew over 1,000 basis points versus last year to 20.9%. This is a continuation of the strong year over year gains we achieved in the first quarter of 2023 and a reflection of our operational refinements over the past six months. Reaching margin parity with our peers is a primary goal of ours and something we’ll continue to advance as we balance our focus on operational improvements with our ongoing investments in future growth.”