Video game

TinyBuild upgrades guidance as demand for video games remains buoyant | 25 January 2022 – Stock Market Wire – Video game producer TinyBuild upgraded its earnings guidance after demand remained buoyant despite an easing of Covid restrictions that had forced people to stay at home.

The company said it was on track to deliver earnings before interest, tax, deprecation and amortisation for the year through December ‘ahead of expectations’.

‘Overall, the 2021 financial year saw a substantial easing of restrictions related to Covid-19, with expectations that video games sales may be negatively impacted,’ TinyBuild said.

‘Conversely, TinyBuild performed strongly in the second half of 2021, both in terms of back catalogue and new titles.’

The company said it had continued to diversify its games portfolio into new genres, such as simulation, action and strategy, and diversify its revenue sources to benefit from platform competition and growth in subscription services.

‘This trend gives the company greater visibility regarding its future revenue growth while helping de-risk ongoing investments.’

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