Playtika grows Q1 revenue 19.6% and cuts debt costs, but stock falls 5% in early trading

Playtika reported financial results for the first quarter that topped last year’s performance today. But its stock price fell 5% in early trading after the company’s second quarterly report as a public company.

The Herzliya, Israel-based company reported revenues of $638.9 million, up 19.6% from $534.2 million a year earlier, for the first quarter ended March 31. The Q1 non-GAAP adjusted earnings before interest, taxes, depreciation, and amortization were $258 million, up 38.7% from the same quarter a year ago. Net income was $35.7 million compared to $35.8 million in the prior-year period. It’s not clear why the stock fell, but it appears to be within the expectations that analysts had anticipated when it comes to operating results.