Shares of Playtika Holding Corp. (PLTK) plunged 11.68% in pre-market trading on Thursday after the mobile game developer reported disappointing fourth-quarter earnings results, widely missing analysts' expectations.
For the quarter ended December 31, 2024, Playtika posted a net loss of $0.04 per share, a stark contrast to the Wall Street consensus estimate of $0.19 earnings per share. While the company's revenue of $650.3 million surpassed forecasts, the significant bottom-line miss overshadowed the top-line beat, leading to a severe sell-off in the stock.
Analysts at Zacks Investment Research had projected Playtika to earn $0.18 per share for the quarter. The company's adjusted earnings of $0.03 per share also fell well short of the $0.18 consensus estimate, marking an earnings surprise of -83.33%.
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