Playstudios reports Q3 EPS (2c), consensus (2c)

Reports Q3 revenue $71.2M, consensus $68.36M. The company said, “Despite continued industry pressures, revenues and consolidated AEBITDA came in above consensus expectations this quarter. AEBITDA margins increased to 20.5% and we believe further gains are achievable. We made progress on our many strategic initiatives this quarter including raising the monetization of our games, expanding the Tetris Brand, a full integration of playAWARDS, furthering our DTC initiative, and evaluating new growth opportunities. We are also announcing our newly instituted reinvention program. The program will meaningfully lower our cost structure, increase our profitability, and better position our company for long term growth.”