Scalper1 News
Casual video game maker King Digital Entertainment (KING) lost an alarming number of paying customers in the first quarter, which likely impacted its weak second-quarter guidance. King stock fell as much as 8% on Friday after the company posted first-quarter results that beat views; it had given disappointing Q2 guidance late Thursday. But King stock recovered to close up a fraction, near 15, on the stock market today. King, best known as the maker of “Candy Crush,” said that it had 364 million unique monthly active users in Q1, up from 352 million in Q1 2014. Wall Street was modeling for 346 million unique monthly users. But the number of paying customers dipped 29% to 8.5 million from 11.9 million a year earlier. And the number is forecast to decline again in Q2. King competes in the mobile and casual games sector with companies like Electronic Arts (EA), Glu Mobile… Scalper1 News
Scalper1 News