KING Gets Candy Crushed In After Hours After Q2 Earnings
King Digital Entertainment (KING - Snapshot Report) develops interactive games. Its games incorporate a puzzle element. Some of its most famous titles include Candy Crush Saga, Pet Rescue Saga, and Farm Heroes Saga.
King stock was down 3% going into earnings. This suggests that investors were pessimistic about the stock going into its earnings report.
Our consensus has gone down in the last 90 days, from EPS estimates of $0.38 to $0.36.
King’s Zacks Rank has seen movement as well. A week ago, the stock had a Zacks Rank #2 (Buy). It has since downgraded, and is currently a Zacks Rank #3 (Hold).
Earnings: King posted earnings of $0.41, beating our consensus estimate of $0.36.
Revenue: King reported revenues of $529 million for the quarter. This beat our revenues consensus of $526 million.
Key stats: The company expects to see third quarter revenues between $460 and $485 million. Also, Three of King’s games were among the top 10 games played on the both the Apple App Store and Google Play Store.
Stock Price: Investors are punishing KING stock in after hours, sending the stock down 7% after the earnings release.
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