Tag Archives: znga

‘Soda Saga’ game performs royally for King Digital

King Digital Entertainment (KING) got a fizzy lift from its “Candy Crush Soda Saga” game in the fourth quarter. The London-based mobile game publisher late Thursday delivered Q4 earnings that beat Wall Street’s expectations, giving its shares a nice pop Friday. King Digital stock was up more than 12% in midday trading on the stock market today, near 16.50. Meanwhile, rival mobile game company Zynga (ZNGA) took a dive after reporting December-quarter sales well below forecasts. Named after the co-founder’s dog, Zynga lived up to its name, falling 15% in midday trading Friday, to 2.25. King (KING) said that it had earned 57 cents a share excluding items on sales of $559 million in Q4. Analysts polled by Thomson Reuters were modeling 47 cents and $520 million. Using Generally Accepted Accounting Principles (GAAP), King’s earnings per share were 44 cents in Q4, vs. expectations for 38 cents. King also announced a…

King Digital looking more like the next Zynga

King Digital Entertainment (KING) stock plummeted to an all-time low Wednesday, after the company late Tuesday reported that revenue from its hit game “Candy Crush Saga” is shrinking faster than expected and new games aren’t making up the difference. It’s a fate that other mobile video game makers have experienced in the hits-driven business.Zynga (ZNGA) has seen its fortunes shrink along with once popular games like “FarmVille” and “Words with Friends.” Zynga went public in December 2011 at 10, reached a high of 15.91 in March 2012, and now trades below 3. King Digital royally disappointed investors with second-quarter sales below forecasts. Earnings matched views, but the company cut its full-year guidance on diminishing returns from “Candy Crush” and announced a curious special dividend to appease shareholders. London-based King made its IPO debut on March 26, pricing its shares at 22.50. King stock peaked at 23.48 on…

Kim Kardashian lends Midas touch to Glu Mobile

She has no discernible talent, but Kim Kardashian has made a fortune marketing her Hollywood lifestyle. Now Kardashian has lent her Midas touch to mobile game publisher Glu Mobile (GLUU). The company’s cheap stock has risen 32% in four days since the release of “Kim Kardashian: Hollywood,” a mobile game starring the reality TV star. On Friday alone, shares of Glu Mobile rose more than 7% to 5. San Francisco-based Glu Mobile competes with King Digital Entertainment (KING), Zynga (ZNGA) and others in the mobile game business. Glu announced the Kim Kardashian game last Wednesday. The game is available for download from the Apple (AAPL) and Google (GOOGL) app stores to play on their respective tablets and smartphones. “The game features Kim’s likeness, voice and creative influence as she guides players on their journey to success in n Hollywood,” a press release says. Glu CEO Niccolo de Masi described the…