tinyBuild shares rise on revenue beat; expects second half weighting

(Alliance News) - tinyBuild Inc shares climbed on Monday, after it said revenue so far in 2024 ...

Alliance News 24 June, 2024 | 9:56AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - tinyBuild Inc shares climbed on Monday, after it said revenue so far in 2024 has been ahead of expectations.

Shares in the Seattle, Washington-based video game developer and publisher were up 2.0% to 5.10 pence each in London on Monday morning.

"The industry backdrop remains difficult with few signs of modest improvement," tinyBuild said.

It noted that Versus Evil continues to underperform, after the disappointing launch of Broken Roads in April.

Despite this, tinyBuild said it has carefully managed its catalogue, and sees revenue slightly ahead of expectations for the first five months of the year.

Looking ahead, tinyBuild expects a "heavily" second half weighted release schedule. It added that it remains confident that its results are on track to be in line with expectations.

Chief Executive Alex Nichiporchik said: "Our investments to create new great IP are starting to bear fruits. Four weeks ago, we held our first ever tinyBuild Connect to showcase the most promising pipeline we ever had, including the likes of SAND, Kingmakers, Level Zero: Extraction, DUCKSIDE, Streets of Rogue 2, Drill Core and more."

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
TinyBuild Inc 5.13 GBX -2.29 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures