Playtika Holding (PLTK) Tops Q2 Earnings Estimates

Core Insights - Playtika Holding (PLTK) reported quarterly earnings of $0.23 per share, exceeding the Zacks Consensus Estimate of $0.17 per share, and up from $0.21 per share a year ago, representing an earnings surprise of 35.29% [1] - The company posted revenues of $627 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.36%, and down from $642.8 million year-over-year [2] - Playtika shares have declined approximately 19.7% year-to-date, contrasting with the S&P 500's gain of 9.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $639.63 million, and for the current fiscal year, it is $0.66 on revenues of $2.58 billion [7] - The estimate revisions trend for Playtika is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Gaming industry, to which Playtika belongs, is currently ranked in the top 37% of over 250 Zacks industries, suggesting that it has a favorable outlook compared to the bottom half of ranked industries [8] - Another company in the same industry, GameStop (GME), is expected to report a quarterly loss of $0.01 per share, with revenues projected to decline by 22.7% year-over-year [9]