Industry News
Playtika Reports Q2 2021 Results
Playtika Holding Corp. has released its financial results for the second quarter of 2021.
Second Quarter 2021 Financial Highlights:
Second quarter revenue was $659.2 million compared to $650.5 million in the prior year period.
Net income was $90.0 million compared to a loss of $139.6 million in the prior year period.
Adjusted EBITDA was $264.4 million compared to $283.2 million in the prior year period.
Cash and cash equivalents totaled $1179.7 million as of 30 June 2021 with $600 million in additional borrowing capacity pursuant to Revolving Credit Facility, resulting in over $1.7 billion of available liquidity.
“Our business in the second quarter accelerated across several key areas. We enhanced player conversion, drove revenues to our proprietary platforms and ramped up new game development, allowing us to announce our upcoming new game’s global launch ahead of schedule. With this momentum we feel optimistic about our prospects for the remainder of 2021 and beyond,” Robert Antokol, Chief Executive Officer of Playtika, said.
“We were pleased to achieve organic revenue growth against a challenging comparable in the prior year quarter. Our teams utilized our live-ops capabilities to develop and leverage our Boost technology platform across our game portfolio, allowing us to re-iterate guidance for both revenue and adjusted EBITDA for 2021. We remain optimistic for the future with over $1.7 billion of available liquidity to drive our M&A initiatives,” Craig Abrahams, President and Chief Financial Officer of Playtika, said.
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