Digital casino game developer SciPlay (NASDAQ:SCPL) will be reporting earnings tomorrow afternoon. Here's what to expect.
Last quarter SciPlay reported revenues of $186.4 million, up 18% year on year, beating analyst revenue expectations by 4.41%. It was a good quarter for the company, with a decent beat of analysts' revenue estimates. The company reported 0.63 million users, up 4.17% year on year.
Is SciPlay buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting SciPlay's revenue to grow 13.3% year on year to $181.3 million, improving on the 3.96% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.29 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing two upwards revisions over the last thirty days. The company missed Wall St's revenue estimates twice over the last two years.
Looking at SciPlay's peers in the consumer internet segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Skillz's revenues decreased 45.2% year on year, missing analyst estimates by 5.66%, and Coursera reported revenues up 23.2% year on year, exceeding estimates by 5.13%. Skillz traded up 2.13% on the results, and Coursera was up 7.85%. Read our full analysis of Skillz's results here and Coursera's results here.
There has been positive sentiment among investors in the consumer internet segment, with the stocks up on average 4.95% over the last month. SciPlay is up 0.36% during the same time, and is heading into the earnings with analyst price target of $20.6, compared to share price of $19.68.
One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.
The author has no position in any of the stocks mentioned.