Stock Story -
Digital casino game platform PlayStudios (NASDAQ:MYPS) will be announcing earnings results tomorrow afternoon. Here's what to expect.
PlayStudios beat analysts' revenue expectations by 2.5% last quarter, reporting revenues of $77.83 million, down 2.9% year on year. It was a mixed quarter for the company, with a decent beat of analysts' daily active users estimates but a miss of analysts' earnings estimates. It reported 14.75 million monthly active users, up 12.8% year on year.
Is PlayStudios a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting PlayStudios's revenue to decline 4.2% year on year to $74.55 million, a reversal from the 13.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.04 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PlayStudios has missed Wall Street's revenue estimates twice over the last two years.
Looking at PlayStudios's peers in the gaming solutions segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 33.5%, beating analysts' expectations by 9.4%, and Accel Entertainment (NYSE:ACEL) reported revenues up 5.7%, topping estimates by 2.7%. Rush Street Interactive traded up 7.9% following the results while Accel Entertainment was also up 10.2%.
Read the full analysis of Rush Street Interactive's and Accel Entertainment's results on StockStory.
There has been positive sentiment among investors in the gaming solutions segment, with share prices up 3.3% on average over the last month. PlayStudios is down 2.3% during the same time and is heading into earnings with an average analyst price target of $4.9 (compared to the current share price of $2.1).
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