Playtika Holding Corp. Wednesday logged a lower profit for the third quarter despite higher sales as costs rose.
The Israeli mobile-games company posted earning of 20 cents a share, down from 31 cents a share in the year-ago quarter. Analysts polled by FactSet had forecast earnings of 26 cents a share.
Net income was $80.5 million, a decline from $119.9 million in the prior-year period.
Revenue rose to $635.9 million from $613.3 million in last year’s third quarter. Analysts were expecting sales of $665 million.
The company’s portfolio of casual games grew revenue by 12%.
Costs climbed for the quarter, with sales and marketing costs rising to $141.1 million from $116.7 million last year. Total costs were $481.4 million, up from $409.6 million a year earlier.
The company’s portfolio of casual games grew revenue by 12%.