Sumary of Could Skillz's Q2 Earnings Report Reverse Its Recent Stock Slide?:
- Shares of competitive mobile gaming platform operator Skillz (NYSE:SKLZ) have declined by 24% over the past month, but the company reports its second-quarter earnings on Aug.
- 1. There’s potential for another guidance boost Skillz went public via a SPAC merger in December, and since then, it has delivered two quarterly reports.
- In both cases, its revenue growth exceeded analysts’ average estimates, and management has raised its 2021 guidance by 2.5% to $375 million.
- Skillz has based its guidance on the games it already has on the platform and the markets it’s already operating in, so any new additions to the business will be icing on the cake.
- Image Source: Getty Images Skillz has some new games on its platform, including its first game in the first-person shooter category, Big Buck Hunter: Marksman.
- Skillz is also acquiring advertising platform Aarki for $150 million in cash and stock.
- That deal should close in the third quarter, but Aarki’s $30 million in annual revenues have not been factored into Skillz’s outlook yet.
- If Skillz hits its current 2021 guidance, that will amount to 63% growth.