Israel-based mobile games developer Playtika has released its Q4 and full-year financials for the period ending December 31 2021.
Fourth quarter revenues grew 13.2 per cent year-over-year to $649 million, with net income for the period totalling $102.3 million, a rise of 34.6 per cent.
During the period, Playtika’s casual games revenue grew 31.5 per cent year-over-year and represented 51.8 per cent of overall revenue. The firm noted that its more recent titles, Solitaire Grand Harvest and June’s Journey, demonstrated "growth potential", with revenues rising 60.1 per cent and 36 per cent year-over-year respectively.
Strong growth potential
For the full 2021 fiscal year, Playtika reported revenues of $2.58 billion, an increase of 8.9 per cent year-over-year. Net income for the year reached $308.5 million, up almost 235 per cent year-over-year.
"Our fourth quarter results demonstrate the ongoing strength of Playtika and the growth potential of the business," said Playtika CEO Robert Antokol.
"In 2021, we extended our leadership in mobile gaming and expanded our vision to reach beyond games into gamifiable apps with the acquisition of Redecor as the world of games, lifestyle and entertainment converge.
"In addition, we significantly enhanced our proprietary technological edge including our Boost platform, which continues to be a differentiator for the company. We are excited by the opportunities that Playtika can achieve, and I want to thank our employees for their tireless work and dedication in making this possible."
Looking at its January 2022 performance, Playtika noted that its revenue had increased9.2 per cent year-over-year, and up 7.2 per cent over the previous month.
Furthermore, Playtika’s board of directors, which recently appointed Dana Gross and Hong Du, has revealed that it has started a process to evaluate the firm’s potential strategic alternatives in a bid to maximise value for its stockholders.
As part of the process, the board has stated that it will examine its "full range of strategic alternatives", which may include a sale of the company.