Ten Square Games rises after fourth-quarter earnings beat

Ten Square Games

26/03/2024 08:57

** Shares in Polish mobile game producer Ten Square Games
 TENP.WA  rise as much as 5% after its fourth-quarter earnings
exceeded market expectations, analysts say
    ** "Adjusted EBITDA was slightly above our expectations and
above market expectations. The company maintained good cost
discipline... " Erste Group's analyst Piotr Bogusz says
    ** The better-than-expected results were also supported by
an improvement in quarter-on-quarter and year-on-year monthly
average users, despite the reduction in user acquisition in
"Fishing Clash" and "Hunting Clash" games, Bogusz adds
    ** Trigon analyst Grzegorz Balcerski echoes praises for
keeping the costs at bay, however casts doubts on the company's
optimistic guidance
    ** "Regarding forecasts of return to path of growth in the
company's main products (segment) we remain skeptical," he says,
citing that even a flattening of (sale) performance of flagship
games in the current market would be a success
    ** By 0853 GMT shares were up 1.7%, outperforming the polish
mid-cap index MWIG40  .MWIG40 

 (Reporting by Rafal Wojciech Nowak)
 ((RafalWojciech.Nowak@thomsonreuters.com, +48 58 769 66 63))