{"id":280,"date":"2024-06-28T13:12:07","date_gmt":"2024-06-28T10:12:07","guid":{"rendered":"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/"},"modified":"2024-06-28T13:12:07","modified_gmt":"2024-06-28T10:12:07","slug":"doubledown-interactive-reports-resurgence-in-earnings","status":"publish","type":"post","link":"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/","title":{"rendered":"DoubleDown Interactive Reports Resurgence in Earnings"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/4zXhjnI1FXM\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>DoubleDown Interactive, the social gambling game creator, announced a resurgence in their initial financial report for the year. They experienced their first rise in earnings after eight consecutive periods of decline!<\/p>\n<p>DoubleDown attributed their triumph to their robust business strategy, emphasizing their consistent accomplishment of over 30% adjusted EBITDA margins and &#8220;significant&#8221; cash flow.<\/p>\n<p>Chief Executive Officer Keuk Kim stated they continue to reap the benefits of strong player engagement in their leading social gambling game, DoubleDown Casino. They intend to concentrate on enhancing player spending by developing fresh casino-wide features.<\/p>\n<p>Kim also alluded to their expansion into novel gaming categories, such as online gambling, through their acquisition of SuprNation, which is anticipated to finalize later in the current year.<\/p>\n<p>DoubleDown&#8217;s Initial Quarterly Earnings Diminish Year-on-Year<br \/>\nEarnings for the three-month period amounted to $77.6 million, a decrease of 9.2% from $85.5 million in the initial quarter of 2022. However, it represented an improvement from the preceding quarter, which was $76 million. <\/p>\n<p>DoubleDown declared earnings of $20 million for the final three months of 2022.<\/p>\n<p>The firm trimmed operational expenses to $52.2 million from $60.8 million in the same timeframe a year ago. DoubleDown attributed this to a lower cost of sales due to reduced sales, as well as decreased marketing and depreciation expenditures.<\/p>\n<p>A non-recurring impairment charge of $270 million in 2022 significantly affected the company&#8217;s yearly performance.<\/p>\n<p>DoubleDown&#8217;s modified EBITDA also experienced a slight decrease, down 5.6% from $26.9 million recorded in the previous period. However, on the other hand, adjusted EBITDA margin increased from 31.5% to 32.8%.<\/p>\n<p>The company stated that the decline in adjusted EBITDA was due to lower revenue reported by the organization in the previous period, while the higher margin was &#8220;primarily attributed to&#8221; lower marketing expenses in the same timeframe.<\/p>\n<p>The business has &#8220;significant flexibility&#8221; to allocate resources.<br \/>\nDoubleDown&#8217;s internal metric average revenue per daily active user rose to $1.03 from $0.97 achieved by the company in the first quarter of 2023.<\/p>\n<p>Overall, the company ultimately enhanced its profitability for the entire year. Net income for the first quarter of 2023 was $23.7 million, up 28.1% from the $18.5 million previously recorded by the company.<\/p>\n<p>Kim suggested that the company is well-positioned for further mergers and acquisitions or investment activities. <\/p>\n<p>DoubleDown&#8217;s emphasis on fine-tuning its fundamental social casino operations has empowered the enterprise to consistently produce appealing annual free cash flow, stated Kim.<\/p>\n<p>Consequently, DoubleDown possesses a robust financial position with over $100 million in unallocated capital, which grants the company substantial choices to allocate resources to augment shareholder value.<\/p>\n<p>DoubleDown has initiated the year with vigor, and we are confident that the company has the appropriate strategy and operational plans in place to maintain delivering solid results for the rest of 2023.<\/p>\n<p>Sign up for the iGaming News Newsletter <\/p>\n","protected":false},"excerpt":{"rendered":"<p>DoubleDown Interactive, the social gambling game creator, announced a resurgence in their initial financial report for the year. They experienced their first rise in earnings after eight consecutive periods of decline! DoubleDown attributed their triumph to their robust business strategy, emphasizing their consistent accomplishment of over 30% adjusted EBITDA margins and &#8220;significant&#8221; cash flow. Chief [&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 Interactive: Back in the Game!<\/title>\n<meta name=\"description\" content=\"DoubleDown Interactive reports a surge in earnings after eight quarters of decline, attributing the success to a strong business strategy and consistent performance.\" 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:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/\" 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 Interactive Reports Resurgence in Earnings\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"DoubleDown Interactive reports a surge in earnings after eight quarters of decline, attributing the success to a strong business strategy and consistent performance.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Immerse Yourself in a World of Licensed Online Casino Thrills\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T10:12:07+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=\"2 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:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/\",\"url\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/\",\"name\":\"DoubleDown Interactive: Back in the Game!\",\"isPartOf\":{\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/#website\"},\"datePublished\":\"2024-06-28T10:12:07+00:00\",\"dateModified\":\"2024-06-28T10:12:07+00:00\",\"author\":{\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"DoubleDown Interactive reports a surge in earnings after eight quarters of decline, attributing the success to a strong business strategy and consistent performance.\",\"breadcrumb\":{\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/28\/doubledown-interactive-reports-resurgence-in-earnings\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"DoubleDown Interactive Reports Resurgence in Earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/#website\",\"url\":\"https:\/\/islandreelsnodepositbonuscodes.icu\/\",\"name\":\"Immerse Yourself in a World of Licensed Online Casino Thrills\",\"description\":\"Unleash your gambling potential with the help of our latest casino news, game reviews, and informative articles. 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