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King Digital Craters as Candy Crush Maker Warns of Lower Bookings

TheStreet

King Digital shares lost ground in after-hours trading Tuesday after the company lowered its outlook on warnings of a contraction in third-quarter gross bookings. For the current quarter, the creator of smartphone game Candy Crush expects gross bookings between $500 million and $525 million, between 14% to 18% lower than the previous quarter. King Digital relies on gross bookings as a measure for its financial health, the metric giving an idea of total revenue expected including contracted future sales. In its second quarter, the app developer reported top-line growth of 30.3% to $593.6 million from the same period last year.