Playtika has released its financial report for the third quarter of 2022. 54.9% of the company’s revenue now comes from casual games, up 1.9% over 2021.

Playtika’s third quarterly report has been released, showing its financial results for the past period:

  • Third-quarter revenue was $647.8 million, up from $635.9 million in the previous year;
  • Net income was $68.2 million, up from $80.5 million last year;
  • Adjusted EBITDA on loans was $203.5 million, compared with $217 million the previous year;
  • In October, the company purchased $600 million worth of stock in a tender offer at $11.58, reducing the number of shares outstanding by 51.8 million;
  • Revenue for the quarter was $647.8 million, up 1.9% from $635.9 million in Q3 2021.

Revenue for the quarter was $647.8 million, up 1.9% from $635.9 million in Q3 2021.

Source: Company presentation

The report highlights the casual games genre, whose portfolio accounted for 54.9% of the company’s total revenue, up 14.4% from last year. Income from the social casino portfolio was down 10.2% from a year ago to 45.1% of total revenue.

Junes Journey’s revenue was up 32.5% over the same period last year. Bingo Blitz increased revenue by 14.7%, and Solitaire Grand Harvest game revenue was up by 14.3%.

Side note: Playtika’s success in casual games.

Source: Company presentation

Casual games performed exceptionally well. Bingo Blitz, Solitaire Grand Harvest and June’s Journey posted double-digit growth over last year.

Robert Antokol, Chief Executive Officer of Playtika

The average DPU is up 5.8% over last year, but daily active users are down 10% this quarter.

Source: Company presentation

The company is looking to optimize its business model further and manage studios focusing on innovation and efficiency while generating solid free cash flow.

Craig Abrahams, President and Chief Financial Officer of Playtika

The company anticipates continued performance through the end of the year. Revenue is projected to be in the previously announced range of $2.60 billion to $2.66 billion.

Read Playtika’s full report here.