Q3: PlayStudios generates $72.1m in revenue, but net income down to $3.6m

Online games developer PlayStudios has posted $72.1m in revenue for Q3 2022, up from the $70.6m generated in Q3 2021.   

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However, the developer’s income this quarter has shrunk to $3.6m compared to $11.2m in the prior-year period. 

But PlayStudios’ AEBITDA was up slightly year-on-year from $9.6m to $9.8m.

PlayStudios attributes its positive AEBITDA results to the acquisition of Brainium, a company the developer expects will add significant contributions to the success of the business. 

The third quarter of 2022 has also seen PlayStudios make progress on the design of two games, Tetris and myVegas Bingo.  

Furthermore, the company has added cinema chains AMC and Cinemark to its playAwards network.  

Playstudios CEO Andrew Pascal said: “We had a strong third quarter and I’m proud of how our team performed. Results showed both annual and quarterly momentum, with many of our recent initiatives beginning to bear fruit. 

“Against an economic and industry backdrop that remains challenging, we believe our performance is particularly noteworthy. We were able to hold DAU and MAU largely flat versus the second quarter of 2022 while growing ARPDAU in our suite of social casino games. 

“Of course, the big news was our acquisition of Brainium and its collection of 10 highly engaging casual games with nearly 2 million DAU. We view Brainium as an excellent complement to our existing game portfolio and significant for our playAwards expansion. It’s early days, but integration is going smoothly, and we couldn’t be happier.” 

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