Playstudios Inc Up 5.68% To $2.33 After Earnings Miss

Playstudios Inc (MYPS) missed earnings projections on 3/11/2024 for Q4 2023.

Playstudios Inc's earnings came in at an EPS loss of $0.15 per share, 650% lower than estimates for an EPS loss of $0.02 per share. The firm's loss per share expanded by 650% since reporting a loss of $0.02 per share a year ago.

Consensus analyst estimates were at $75.3 million. The Communication Services company managed to surpass those expectations for its fourth quarter with revenue of $77.1 million, a positive revenue surprise of $1.8 million (2%). The firm managed negative 3% growth year-over-year due to Playstudios Inc reporting quarterly revenue of $79.4 million in its year-ago quarter. Playstudios Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is up 5.68% to $2.33 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 41. Meanwhile, the average Wall Street analyst rated the stock a Buy.

PLAYSTUDIOS Inc is engaged in gaming and related business. Some of the games offered by the company include myVEGAS Slots, myVEGAS Blackjack, my KONAMI Slots, POP! Slots, myVEGAS Bingo, MGM Slots Live, and Tetris. Its games are available on iTunes and Google Play. Nearly all of the company's revenue is derived from in-game purchases.