The following is a summary of the Playtika Holding Corp. (PLTK) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Playtika reported Q1 2024 revenue of $651.2 million, 2.1% higher sequentially, but slightly lesser by 0.8% than the previous year same quarter.

• The company charted a net income of $53 million and direct-to-consumer platforms constituted $171.5 million, marking a 6.1% and 13.2% rise sequentially and YOY respectively.

• Despite witnessing a drop in credit adjusted EBITDA at $185.6 million, down 1.7% sequentially and down 16.7% year-over-year, the company's financial stability was indicated by a new $150 million share repurchase program authorized by its Board of Directors.

Business Progress:

• Playtika has reorganized its management structure; Chief Revenue Officer and Chief Operating Officer roles were eliminated for better strategic alignment with the mobile gaming market.

• The company aims to reinforce its marketing and studio operations for effective campaign execution.

• Success with recently acquired studios has been encouraging and the company plans to replicate it in future acquisitions.

• Plans to enrich the D2C platform with two new games within a span of 12 to 14 months were disclosed, with a long-term goal of generating 30% revenue from D2C. The company witnessed a steady uptick in revenue across casual games like Bingo Blitz, Solitaire Grand Harvest, and Animals & Coins.

More details: Playtika Holding IR

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