King Digital Entertainment, the maker of “Candy Crush”, beat expectations on the top and bottom lines and shares are expected to take off. King’s total gross bookings, which is an indicator of future revenue, increased 8% to $586 million in Q4. That was better than analysts forecasts. King gets more than three quarters of its gross bookings from mobile. It launched several new games last year which were big hits including “Bubble Witch 2 Saga” and a new version of its ever popular “Candy Crush Saga”. These newer games at King Digital more than made up for the declining popularity of older titles. King went public last March. It currently has a market value of about $4.6 billion. The 52 week range for King Digital is 10 and change to 23 and change. It closed Thursday at about 14 dollars a-share.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
