DoubleDown Interactive reported second-quarter profit of $32.9 million, up 50.5% year over year, with fully diluted earnings per share of $13.27, while its controlling shareholder's buyout offer remains under review. Revenue rose 11.2% to $94.3 million, driven by a surge in direct-to-consumer sales, which nearly quadrupled to $40.5 million and now account for 52.4% of social casino revenue. Adjusted EBITDA climbed 17.2% to $39.3 million, and the company holds a net cash position of $521 million. The growth was partly aided by an unrealized foreign currency gain, and the unresolved $11.25 per ADS takeover offer from DoubleU Games continues to weigh on the stock, which trades at a forward P/E of 4.89.
DoubleU Games Co LtdIts $11.25 per ADS buyout offer for DoubleDown remains unresolved and under review, weighing on the stock.
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