Playstudios reports Q4 EPS (15c), consensus (2c)

Reports Q4 revenue $77.1M, consensus $75.31M. Andrew Pascal, Chairman and Chief Executive Officer of PLAYSTUDIOS, commented, “We closed 2023 strongly, reporting fourth quarter results that were ahead of consensus expectations and above the midpoint of our guidance. Our profitability continued to rise at a remarkable rate, with year over year Consolidated AEBITDA growing over 20% and Consolidated AEBITDA margins expanding by 390bps vs. the fourth quarter of 2022. Full year 2023 results were even stronger with Consolidated AEBITDA expanding by over 60% and Consolidated AEBITDA margins growing nearly 700bps to 20%. Our goal remains to reach parity with our peers, whose margins are in the 30% range. Revenues in the quarter were largely inline with our expectations, with our portfolio of growth games continuing to perform strongly. playAWARDS added new partners and functionality in the quarter as well as expanding its presence across our games. We believe a full adoption of the myVIP program will meaningfully increase audience participation in our loyalty ecosystem and drive substantial value for our players, games, and reward partners.”