Overview

* Playstudios ( MYPS ) Q3 revenue of $57.6 mln missed analyst expectations

* Net loss for Q3 widened to $9.1 mln from $3.1 mln last year

* Direct-to-consumer revenue increased by 48% yr/yr in Q3

Outlook

* Company expects full-year revenue and AEBITDA below previous guidance due to player activity softness

* Company focuses on direct-to-consumer growth and new initiatives like Tetris Block Party

Result Drivers

* DIRECT-TO-CONSUMER GROWTH - Direct-to-consumer revenue rose 48% yr/yr, indicating traction in this channel

* MARKET HEADWINDS - Core social casino business faced significant market challenges, per CEO Andrew Pascal

* STRATEGIC INITIATIVES - Progress in sweepstakes and Tetris Block Party seen as promising, per CEO Andrew Pascal

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $57.65 $58.77

Revenue mln mln (5

Analysts

)

Q3 EPS -$0.07

Q3 Net -$9.12

Income mln

Q3 12.6%

Adjusted

EBITDA

Margin

Q3 -$8.82

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for PLAYSTUDIOS Inc ( MYPS ) is $2.00, about 53.5% above its October 31 closing price of $0.93

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)