PlayStudios (MYPS) Reports Q3: Everything You Need To Know Ahead Of Earnings
Digital casino game platform PlayStudios (NASDAQ:MYPS) will be reporting results tomorrow after market close. Here's what to expect.
Last quarter PlayStudios reported revenues of $77.8 million, up 13.8% year on year, in line with analyst expectations. It was a mixed quarter for the company, with impressive growth in its user base but full-year revenue guidance missing analysts' expectations. The company reported 13.9 million monthly active users, up 109% year on year.
Is PlayStudios buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting PlayStudios's revenue to grow 7.2% year on year to $77.3 million, improving on the 2.2% year-over-year increase in revenue the company had recorded in the same quarter last year.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at PlayStudios's peers in the consumer internet segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Meta delivered top-line growth of 23.2% year on year, beating analyst estimates by 2.03%, and Teladoc reported revenues up 7.99% year on year, missing analyst estimates by 0.43%. Meta traded up 4.8% on the results, Teladoc was down 4.3%.
Read our full analysis of Meta's results here and Teladoc's results here.
Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off in 2022, and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 3.56% over the last month. PlayStudios is down 8.41% during the same time, and is heading into the earnings with analyst price target of $6.1, compared to share price of $2.8.
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The author has no position in any of the stocks mentioned.
