GDEV and GrowGeneration Report Mixed Financial Results Amidst Industry Challenges; GrowGeneration Announces $6 Million Stock Buyback
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GDEV Inc., an international gaming and entertainment company, released its unaudited financial and operational results for the third quarter and nine months ended September 30, 2023. The company reported a profit of $24 million for the period, a decrease compared to the previous year. GDEV highlighted its efforts to adapt to challenges in the gaming industry and its investments in new players, resulting in a 23% year-over-year growth in monthly paying users. The company's flagship franchise, Hero Wars, celebrated its anniversaries and has accumulated significant bookings. GDEV's revenue decreased by $7 million in the third quarter of 2023, primarily due to a decrease in bookings. The company also reported changes in platform commissions, game operation costs, selling and marketing expenses...
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