‘Candy Crush’ maker reports higher profit

‘Candy Crush’ maker reports higher profit

‘Candy Crush’ maker reports higher profit

Written by Staff Writer

15 May, 2015 | 10:38 am

Shares of the maker of popular mobile game Candy Crush fell as much as over 14% in after hours trading after it warned of weaker profits.

King Digital said it expects fluctuations in foreign currency and a lack of new releases to hold back its earnings in the current quarter.

The big drop in its shares came despite the release of first quarter sales figures that beat market expectations.The firm has been struggling to increase market share.

King Digital’s revenue fell 6.1% to $569.5m (£361m) in the first three months of the year from a year ago, but that was higher than analysts’ forecasts of $563.4m.

King Digital is launching a new game this year, but that will not be released until the later half of the year.

 

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