Financial News

PlayStudios (MYPS) Q3 Earnings Report Preview: What To Look For

MYPS Cover Image

Digital casino game platform PlayStudios (NASDAQ:MYPS) will be announcing earnings results tomorrow after market hours. Here’s what to look for.

PlayStudios missed analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $72.59 million, down 6.7% year on year. It was a softer quarter for the company, with full-year revenue guidance missing analysts’ expectations and a miss of analysts’ daily active users estimates. It reported 13.6 million monthly active users, down 2% year on year.

Is PlayStudios a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting PlayStudios’s revenue to decline 9.6% year on year to $68.58 million, a reversal from the 5.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.

PlayStudios Total Revenue

The majority of analysts covering the company have 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 Q3 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 36.6%, beating analysts’ expectations by 11.9%, and Accel Entertainment reported revenues up 5.1%, topping estimates by 1.7%. Rush Street Interactive’s stock price was unchanged after the results, while Accel Entertainment was down 2.9%.

Read our full analysis of Rush Street Interactive’s results here and Accel Entertainment’s results here.

Investors in the gaming solutions segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. PlayStudios is down 7.3% during the same time and is heading into earnings with an average analyst price target of $3.70 (compared to the current share price of $1.39).

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