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Playtika revenue ebbs up but operating costs rise faster in Q3


Social gaming provider Playtika recorded revenue of $647.8m (£564.1m/€643.6m) in the third quarter of the year, up by 1.9% compared to Q3 2021.

Robert Antokol, CEO of Playtika, said that the results reflected Playtika’s position in the market and bolstered its future plans.

“We believe we are well positioned for the future as we develop exciting, new features for our games and drive our strategic initiatives focused on technology and digitization to build on our leadership position in mobile games,” said Antokol.

Total operating costs added up to $516.4m, an increase of 7.2% year-on-year. This left operating income at $131.4m, a fall of 14.9%.

Costs of revenue were the largest expense, at $181.8m, up by 1.4%. Sales and marketing costs also ticked up, rising by 3.0% to $145.4m, while research and development costs rose more sharply by 25.7% to $115.1m.

General and administrative costs came to $74.1m, a 6.4% rise.

Interest and other expenses came to $24.3m, a loss of $600,000 year-on-year, bringing the pre-tax income to $107.1m. Following income taxes at $38.9m, the total net income for the quarter was $68.2m – down by 9.9% yearly.

The year so far

For the first nine months of the year, revenue stands at $1.98bn – a rise of 2.6% year-on-year. Total costs and expenses is $1.64bn, while interest and income taxes are $74.2m and $81.1m respectively.

Net income for the year so far is $187.8m, down by 8.9% year-on-year.

The year so far has seen developments for Playtika. In March, it acquired game developer JustPlay.LOL for an undisclosed purchase price. Revenue was up by 6% in the first quarter since the acquisition.

Also in March, Playtika appointed Jacob Mendel as the vice president of blockchain technology.