Thunderful Group: Lower profitability in Games
Research Update
2023-08-22
07:15
Redeye provides an update on Thunderful Group following its Q2 2023 report, which showed weaker profitability than expected, primarily from games. Given the challenging market for smaller AA / indie game titles, some game postponements, and continued challenging markets for NGS, we revise our estimates and valuation accordingly.
VL
TO
Viktor Lindström
Tomas Otterbeck
Disclosures and disclaimers