Based on the game releases and recent trends, the company expects that its gross bookings will be in the range of $460 million to $485 million in the third quarter.
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King Digital’s shares slipped 9% in extended trading after the company also reported an 18% drop in quarterly revenue, citing fewer franchise games and a strong dollar. As per the latest information, JP Morgan Lowers the price target to $17.00 per share from a prior target of $20.00.
On an adjusted basis, King Digital earned 49 cents per share. Revenue fell 17.5 per cent to $US489.5 million. The company has a market cap of $4.72 billion and a P/E ratio of 8.05. The stock has a 50-day moving average of $15.14 and a 200 day moving average of $15.22.
King Digital said it expects gross bookings of US$460mil (RM1.8bil) to US$485mil (RM1.9bil) in the current quarter, compared with US$544mil (RM2.1bil) a year earlier.
Several research firms recently issued reports on KING. King Digital Entertainment plc (NYSE:KING): On Monday heightened volatility was witnessed in King Digital Entertainment plc (NYSE:KING) which led to swings in the share price. Zacks cut King Digital Entertainment PLC from a “buy” rating to a “hold” rating in a research report on Friday, July 10th.
Many analysts have commented on the company rating.
King Digital Entertainment plc is an interactive entertainment company for the mobile world. The company primarily provides Candy Crush Saga, Candy Crush Soda Saga, Farm Heroes Saga, Pet Rescue Saga, and Bubble Witch 2 Saga games.
The service provider said on Thursday it delayed its admission towards a internet gaming group named “mid-core” to effectively 2016. The Company is involved in developing and monetizing digital games on multiple platforms.
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King Digital, which makes games for social media websites and mobile devices, has struggled to boost bookings, an indicator of future revenue, as it only began launching new games toward the second half of the year. As of December 31, 2014, the Company had 533 million monthly active users (NYSE:KING), 149 million daily active users (DAUs), 356 million monthly unique users (MUUs) and 8,344 million monthly unique payers (MUPs).
