Times of Oman
Price in RO
24ct / gm
22ct / gm
Forex Rates vs R01
Back to Homepage
Candy Crush maker King beats analyst estimates on user growth
May 07, 2014 , 6 : 55 pm GST
SAVE THIS ARTICLE
In this file picture taken on January 25, 2014, a man plays Candy Crush Saga on his Iphone. Photo - AFP
King Digital Entertainment Plc, maker of the
Candy Crush Saga
video game, reported first-quarter profit that beat analysts' estimates after it attracted more users for products such as Farm Heroes Saga.
Profit totaled 61 cents a share, excluding items, the Dublin-based maker of Saga-branded titles said today in a statement. That compared with the 57-cent average of 12 analysts' estimates compiled by Bloomberg. Sales rose to $606.7 million, beating the $593.6 million average estimate.
King, which fell 16 percent in its first day of trading in March after raising $500 million, is working to develop a wider assortment of games to avoid the decline that hit Zynga Inc., which relied too much on FarmVille for revenue.
Candy Crush accounted for 67 percent of King's revenue, less than the 78 percent recorded in the fourth quarter of 2013. Monthly unique users increased to 352 million from 101 million a year earlier.
In April, King said it will introduce a Chinese version of Candy Crush Saga, a puzzle game that features different colored candies, in partnership with Tencent Holdings Ltd.
King generates revenue when users purchase virtual items, such as extra lives or additional game content, to help complete levels. Its applications can be used on devices running Apple Inc., Google Inc. and Amazon.com Inc. software, and are available on computers through Facebook Inc.
The shares fell 1.5 percent to $18.76 yesterday in New York. The stock has fallen 17 percent from the IPO price of $22.50 in March.
Rate this Article
Rates : 0, Average : 0
Post a Comment
Did you like this section? Leave a comment!
Your Name :
Your Email Address :
Your Comment :
Enter Image Text:
No Comments Posted
Latest in this section
Apple watches go on sale at select upscale boutiques, department stores
Software developers try on Apple watch, see more apps coming
Japan’s maglev train breaks new world speed record
Mother of austistic child develops ‘universal language’ app
Germany still has some way to go to ‘smart factories’
TOP RATED ARTICLES
Fire in Oman's industrial area Ghala creates panic
Double delight for Indian school Wadi Kabir students as they lift Times of Oman Quiz trophy
Times News Service
Indian gvernment committed to bigger pictorial warnings on tobacco products: Nadda
Oman to expand underground waste bin facility to new areas of capital
Times News Service
Taliban launch spring offensive, attack US Bagram Air Base outside Kabul with rocket
More in News
American travel, reportage photographer goes off his track in Oman
Whale sharks set for tagging to save species
Lewis Smith/The Independent
Sri Lanka restores blood-soaked railway to Tamil heartland
Bucharest 'khans' reborn after decades of neglect
More than just a moustache - Adolf Hitler vs Charlie Chaplin
More in Features
The debate within
Should Pakistan play extra-territorial role?
Why Europe needs to bail out Greece
Dear Kenya, you need to be strong
Instability defines Middle East today
More in Columns
Muscat Media Group.
Times of Oman is not responsible for the content of external internet sites.
For reprint rights contact:
TOO Online Editorial