Playtika Holding Corp. has published its Q1 2023 financial report. The company brought in $656.2m in revenue for the quarter.
Q1 revenue grew 4% when compared to the previous quarter’s results. However, the company noted that this quarter’s revenue fell by more than 3% year-over-year.
Net income during the first quarter followed a similar trend. Playtika posted $84.1m in net income for the quarter, a 3.9% decrease when compared to its results from this time last year.
The company’s credit-adjusted EBITDA, however, reflected both quarterly and year-over-year growth. Adjusted EBITDA in this year’s first quarter reached $222.7m. The total represented a 9.9% boost when compared to Q4 2022 and an increase of 12.8% year-over-year.
Company CEO Robert Antokol summarized the company’s continuing goals and said they have contributed to overall financial growth.
He commented: “Playtika continues to deliver personalized immersive entertainment experiences enjoyed by millions of players each day across our diverse portfolio of games.
“Our unrivaled LiveOps expertise along with our robust tech stack, including our AI-powered Digital Studio, delivers unique capabilities to drive efficiencies and optimize the player experience, resulting in increased conversion and organic, sequential growth.”
President and CFO Craig Abrahams credited this quarter’s results to “strategic decisions” the company has made to gain financial strength.
He said: “The strategic decisions we made last year propelled us to enhance our margin profile while growing revenues sequentially.
“We will continue to efficiently invest in our technology while maximizing ROI across our portfolio, positioning ourselves to outperform in the years to come.”
