King Digital Jumps After Non-Candy Crush Sales IncreaseDanielle Burger
King Digital Entertainment Plc surged in extended trading after sales of titles other than Candy Crush Saga increased from the previous quarter, signaling the company is diversifying from its top-selling game.
The shares jumped as much as 21 percent to $17.83 after the close. Non-Candy Crush titles, such as Farm Heroes and Pet Rescue, generated $324 million in the fourth quarter, the Dublin-based company said Thursday in a statement, up from $264 million in the third quarter.
Through the close of regular trading today, King shares had tumbled 35 percent since its initial public offering in March as investors questioned whether the company can generate revenue from games other than Candy Crush.
The company today also agreed to acquire Z2Live, a game development company, for $45 million in cash.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.