adminBy Emon Reiser
Playtika Holding shares declined 11% Wednesday after the mobile-game developer lowered its guidance and fell short of Wall Street expectations.
The stock fell to $7.71 a share, down nearly 9% for the year.
Playtika revised its full-year revenue guidance to $2.55 billion to $2.57 billion, down from prior guidance of $2.57 billion to $2.62 billion.
The company raised the high end of its range for expected full-year earnings before interest, taxes, depreciation and amortization to $832 million, up from prior guidance of up to $830 million.
Playtika reported before the market opened, posting third-quarter earnings per share of 10 cents, down from 17 cents a year ago, and $630.1 million in revenue, down from $647.8 million a year ago. Analysts expected 19 cents and $638.3 million, respectively.
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