Digital casino game platform PlayStudios (NASDAQ:MYPS) will be announcing earnings results tomorrow after market close. Here’s what investors should know.
Last quarter PlayStudios reported revenues of $75.86 million, up 5.2% year on year, missing analyst expectations by 1.9%. It was a weak quarter for the company, with full-year revenue guidance missing analysts’ expectations. The company reported 13.71 million monthly active users, up 105% year on year.
Is PlayStudios buy or sell heading into the earnings? Read our full analysis here, it’s free.
This quarter analysts are expecting PlayStudios’s revenue to decline 5.1% year on year to $75.31 million, a deceleration on the 10.4% year-over-year increase in revenue the company had recorded in the same quarter last year.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St’s revenue estimates three times over the last two years.
Looking at PlayStudios’s peers in the consumer internet segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Remitly delivered top-line growth of 38.6% year on year, beating analyst estimates by 1.3% and Nextdoor reported revenues up 4.3% year on year, exceeding estimates by 8.6%. Remitly traded up 11.6% on the results, and Nextdoor was up 2.2%.
Read our full analysis of Remitly’s results here and Nextdoor’s results here.
There has been positive sentiment among investors in the consumer internet segment, with the stocks up on average 5.4% over the last month. PlayStudios is down 9.1% during the same time, and is heading into the earnings with analyst price target of $5.1, compared to share price of $2.11.
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