King Digital Pummeled As Candy Crush Fad Fizzles Out

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(Forbes) – Many people have called mobile game Candy Crush a fad. Now there’s evidence that the fad is waning.

King Digital, the maker of Candy Crush Saga and other games, saw its shares tumble in after hours trading on Tuesday after it reported weaker revenues than expected in the second quarter. King said that gross bookings — the total amount users spend on virtual items — fell 5%, or $30 million, from the first quarter. That sequential decline was “primarily due” to lower sales from Candy Crush Saga, and partially offset by newer games Farm Heroes Saga and Bubble Witch 2 Saga.

Overall, the company reported earnings per share of $0.59, meeting expectations, and revenues of $594 million, which missed analyst predictions of $608 million.

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