![]() ![]() "All the pressure is on the new games and there's no guarantee they will be sustainably successful." "But if you are looking at the glass half empty, you'd say their core flagship is declining really fast," Bhatia said. if you are looking at it glass half full," he said. The stock has not approached its IPO price of $22.50 since it began trading in March.Īrvind Bhatia, an analyst with Sterne Agee, said Candy Crush was fading sooner than expected. King's shares dropped to $16.25 in late afternoon trading. On a call with analysts, executives said the company incurred expenses in marketing its new "Farm Heroes Saga" game in the first quarter. Moreover, King's net profit of $127 million, was up from $53 million a year ago, but slipped 20 percent from $159 million in the previous quarter. And though revenue from in-game purchases was up, monthly unique payers - gamers who actually spend money in King's titles - dropped to 11.9 million from 12.2 million in the previous quarter. Total gross bookings rose just 1 percent from the fourth quarter 2013.
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