PlayStudios (MYPS) Reports Earnings Tomorrow: What To Expect

StockStory
09 Mar
PlayStudios (MYPS) Reports Earnings Tomorrow: What To Expect

Digital casino game platform PlayStudios (NASDAQ:MYPS) will be announcing earnings results tomorrow afternoon. Here’s what to expect.

PlayStudios missed analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $71.23 million, down 6.1% year on year. It was a slower quarter for the company, with a miss of analysts’ EPS estimates. It reported 2.96 million monthly active users, down 15.9% 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 11.6% year on year to $68.15 million, a further deceleration from the 2.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.

Analysts covering the company have generally 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 three times over the last two years.

Looking at PlayStudios’s peers in the gaming solutions segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 31.1%, beating analysts’ expectations by 3.4%, and DraftKings reported revenues up 13.2%, falling short of estimates by 0.9%. Rush Street Interactive traded down 15.3% following the results while DraftKings was up 15.2%.

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

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