- Winking Studios’s 1H24 core earnings fell 34% y-o-y to US$1.2m, missing expectations and forming 28% of our full-year forecast. We lift 2025-26 earnings forecasts on full-year contributions from Winking Studios’s new acquisitions.
- - Read this at SGinvestors.io -
Earnings below expectations on post-acquisition integration impact.
- Winking Studios (SGX:WKS)'s reported 1H24 revenue of US$15m (+7% y-o-y) and core net profit of US$1.2m (-34% y-o-y), forming 47% and 28% of our full-year forecasts respectively. The core earnings miss came from weaker gross margin (-3ppt y-o-y) and net margin (-2.9ppt y-o-y) after the acquisition of two art outsourcing studios, On Point Creative and Pixelline Production in 1H24.
- - Read this at SGinvestors.io -
Double-digit revenue growth in local currencies.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Heidi Mo UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-08-23
Previous report by UOB:
2024-04-04 Winking Studios - Levelling Up In The Dynamic World Of Game Art.
Price targets by other brokers at Winking Studios Target Prices.
Listing of research reports at Winking Studios Analyst Reports.
Relevant links:
Winking Studios Share Price History,
Winking Studios Announcements,
Winking Studios Dividend Payout Dates & Corporate Actions,
Winking Studios News
