King Digital Quarterly Revenue Falls Below Expectations
Social and mobile game company King Digital Entertainment Plc reported lower-than-expected second-quarter revenue on Tuesday, due to losses in its game titles, such as “Candy Crush Saga.” King shares slipped 22 percent in after-hours trading after closing at $18.20 on the New York Stock Exchange. According to Thomson Reuters, The company, which went public in March, reported revenue of $594 million for the second quarter ended June 30 compared to $456 million in the year-ago period. This fell short of analysts’ expectations of $608.3 million.
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