King Digital, the company behind Candy Crush, just reported earnings.
The numbers are generally pretty solid.
Gross bookings were $US641.1 million, which is up from the previous quarter of $US632 million.
Monthly active users were 481 million, up from the previous quarter which had 408 million monthly active users. Daily active users were also up: 143 million versus 124 million the quarter before.
EPS was $US0.61 versus analyst estimates of $US0.57.
King’s stock is up 2.4% as of right now in reaction to the earnings.
This is King’s first report as a public company. It priced its IPO at $US22.50 per share. The stock is currently trading around $US19 per share.
Investors were worried about the company’s growth. Revenue in Q4 was down from its Q3 revenue.
This quarter, as we noted, revenue is up sequentially, but it’s still not as high as it was in Q3.
King once again saw solid gross bookings, which is the total amount paid for virtual items like in-game currency. In Q1, 75% of gross bookings came from mobile, making it a record quarter for King.
Profitability was still strong in Q1, but King says the decline in adjusted EBITDA was due to launching Farm Heroes Saga and increasing the company’s headcount.
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