Anorak | King Digital Plunges 23% As Candy Crush Saga Runs Out Of Steam

King Digital Plunges 23% As Candy Crush Saga Runs Out Of Steam

by | 22nd, August 2014

WELL, what the stock market was worrying about has come to pass. King Digital is the maker of Candy Crush Saga, that game that’s been sucking the life out of the nation for the past couple of years. It’s also one of the great UK successes in the mobile games space. However, they’ve not been able to come up with anything to replace that now becoming ever less fashionable game: thus the stock sank like a stone :

King Digital Entertainment, the makers of mobile game Candy Crush Saga, has cut their 2014 forecast following the company’s poor performance at the New York Stock Exchange.

The company’s shares fell 22 percent to close at USD 18.20 on NYSE.

King reported a quarterly revenue of USD 594 million, compared with USD 456 million in the same period in 2013.

King Digital Entertainment achieved lower than expected results in the second-quarter. According to the company, it has previously estimated to make a turnover of USD 2.55 billion to USD 2.65 billion from the items bought within its games but it has now lowered it to USD 2.25 billion to USD 2.35 billion.

Note that it’s not making a

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Posted: 22nd, August 2014 | In: Money, Technology Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink