Archosaur Games Full Year 2023 Earnings: Misses Expectations

Archosaur Games (HKG:9990) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥908.5m (up 56% from FY 2022).
• Net loss: CN¥315.6m (loss narrowed by 59% from FY 2022).
• CN¥0.40 loss per share (improved from CN¥0.98 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Archosaur Games Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 8.2%. Earnings per share (EPS) also missed analyst estimates by 29%.

The primary driver behind last 12 months revenue was the Mainland China segment contributing a total revenue of CN¥592.1m (65% of total revenue). The largest operating expense was Research & Development (R&D) costs, amounting to CN¥582.2m (60% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥5.33m. Explore how 9990's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Entertainment industry in Hong Kong.

Performance of the Hong Kong Entertainment industry.

The company's shares are up 8.5% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Archosaur Games that you need to be mindful of.

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