{"id":268,"date":"2024-06-27T20:30:34","date_gmt":"2024-06-27T17:30:34","guid":{"rendered":"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/"},"modified":"2024-06-27T20:30:34","modified_gmt":"2024-06-27T17:30:34","slug":"doubledowns-second-quarter-revenue-declines-expenses-reduced","status":"publish","type":"post","link":"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/","title":{"rendered":"DoubleDown&#8217;s Second Quarter: Revenue Declines, Expenses Reduced"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/ayNB5ypXM1s\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>DoubleDown Interactive&#8217;s chief executive, Kim, stated that the forthcoming takeover of SuprNation will unlock fresh online gambling prospects for the company, following a dip in the firm&#8217;s second-quarter earnings.<\/p>\n<p>DoubleDown&#8217;s second-quarter earnings dipped by 6.7% year-on-year to $75.2 million (\u00a359 million\/\u20ac68.5 million). The social gaming developer attributed the decrease to players returning to their usual routines after COVID-19 restrictions were lifted, and consumer entertainment habits reverting to normalcy.<\/p>\n<p>The developer also pointed to the influence of inflation and global economic anxieties on player behavior.<\/p>\n<p>However, CEO Kim remains hopeful about the future, highlighting the impending acquisition of SuprNation. The deal, anticipated to finalize later this year, will enable DoubleDown to venture into the real-money gaming arena.<\/p>\n<p>\u201cWe have the ability to consistently generate positive cash flow, coupled with a robust balance sheet boasting over $150 million (\u00a3117.6 million\/\u20ac136.6 million) of uncommitted capital, providing us with the adaptability to invest in new game categories and high-demand market opportunities,\u201d said Kim.<\/p>\n<p>\u201cThis includes entering the online gambling arena through our pending acquisition of SuprNation, which is projected to conclude later this year.\u201d <\/p>\n<p>We are heartened by our achievements in the initial six months of the year and anticipate continuing to produce substantial cash flow for the remaining portion of 2023 and beyond.<\/p>\n<p>DoubleDown&#8217;s Second Quarter: Revenue Declines, Expenses Reduced<br \/>\nThe company&#8217;s revenue for the quarter was $75.2 million, a 6.7% decrease from the same period last year and a 3.1% drop from the $77.6 million recorded in the first quarter.<\/p>\n<p>Monthly active users (MAU) experienced a 22.5% year-over-year decline to 1.8 million, and daily active users (DAU) also fell to 793,000. However, the average monthly revenue per player saw a slight increase to $235.<\/p>\n<p>On the expenditure side, operational costs decreased by 62.9% to $47.7 million. This reduction was primarily attributed to the inclusion of expenses related to the Washington class action lawsuit last year.<\/p>\n<p>DoubleDown also reported $4.4 million in financial-related income, encompassing interest income and foreign exchange gains. As a result, pre-tax profit reached $31.9 million, in contrast to a loss of $46.1 million in the previous year.<\/p>\n<p>The developer paid $7.6 million in taxes, resulting in a net profit of $24.4 million, compared to a loss of $34.1 million in 2022. After taking into account pension adjustments and foreign exchange fluctuations, net profit stood at $24.2 million, compared to a net loss of $37.3 million in 2022.<\/p>\n<p>Adjusted EBITDA also saw an increase, rising from $25 million to $27.6 million.<\/p>\n<p>DoubleDown&#8217;s First-Half Performance Mirrors Second Quarter<br \/>\nFor the six months concluding on June 30, revenue amounted to $152.8 million, representing an 8.0% decrease from the preceding year.<\/p>\n<p>Operational costs decreased by 47.3% to $99.9 million, again due to expenses related to legal settlements. Financial income reached $9 million. <\/p>\n<p>DoubleDown experienced a strong first half of the year, generating a pre-tax profit of $62.3 million. This represents a significant turnaround from the previous year, where they incurred a loss of $21.6 million.<\/p>\n<p>After accounting for taxes of $14.3 million, DoubleDown achieved a net profit of $48 million. This marks a substantial improvement compared to the $15.6 million loss recorded in the same period last year.  When considering pension adjustments and currency fluctuations, the net profit amounted to $46.6 million. In the corresponding period of the previous year, they incurred a loss of $20.8 million.<\/p>\n<p>DoubleDown also witnessed a positive increase in their adjusted EBITDA, which rose by 2.1% to $53 million.<\/p>\n<p>Kim remarked, &#8220;DoubleDown&#8217;s business approach is highly effective, and we maintain a disciplined approach to expenditure. This has contributed to our strong profitability, as evidenced by our 34.7% profit margin in the first half of 2023.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>DoubleDown Interactive&#8217;s chief executive, Kim, stated that the forthcoming takeover of SuprNation will unlock fresh online gambling prospects for the company, following a dip in the firm&#8217;s second-quarter earnings. DoubleDown&#8217;s second-quarter earnings dipped by 6.7% year-on-year to $75.2 million (\u00a359 million\/\u20ac68.5 million). The social gaming developer attributed the decrease to players returning to their usual [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DoubleDown<\/title>\n<meta name=\"description\" content=\"DoubleDown Interactive aims to boost online gambling with the acquisition of SuprNation, following a dip in second-quarter earnings.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"DoubleDown&#039;s Second Quarter: Revenue Declines, Expenses Reduced\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"DoubleDown Interactive aims to boost online gambling with the acquisition of SuprNation, following a dip in second-quarter earnings.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Stay Ahead of the Curve with Our Licensed Casino Gaming Updates\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T17:30:34+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/\",\"url\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/\",\"name\":\"DoubleDown\",\"isPartOf\":{\"@id\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-27T17:30:34+00:00\",\"dateModified\":\"2024-06-27T17:30:34+00:00\",\"author\":{\"@id\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"DoubleDown Interactive aims to boost online gambling with the acquisition of SuprNation, following a dip in second-quarter earnings.\",\"breadcrumb\":{\"@id\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/2024\/06\/27\/doubledowns-second-quarter-revenue-declines-expenses-reduced\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"DoubleDown&#8217;s Second Quarter: Revenue Declines, Expenses Reduced\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/duckyluckcasinonodepositbonus.icu\/\",\"name\":\"Stay Ahead of the Curve with Our Licensed Casino Gaming Updates\",\"description\":\"Stay on top of the online gambling world with our fresh casino news, in-depth reviews, and expert articles. 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