Mobile games publisher King (NYSE:KING) has announced its FY15 Q1 financials, for the three months ending 31 March 2015.
GAAP revenues were $570 million, down 6 percent year-on-year, but up 4 percent quarter-on-quarter.
Mobile games accounting for 81 percent of bookings (a slightly different technical measure of sales).
Non-Candy Crush bookings accounted for 62 percent of bookings.
Cash is king
King generated $164 million in profit, up 29 percent, although this was mainly due to foreign exchange gains.
However, it ended the quarter with cash and equivalents of $661 million, down substantially from the $964 million it had 3 months ago.
As well as an expensive acquisition campaign, King has been handing back cash to its shareholders via dividends and also spent $111 million buying back shares during the quarter.
At $14.99, its share price remains well under its IPO launch price of $22.50, though.
More players
At least there was positive news from its player numbers.
Monthly uniques were up quarter-on-quarter to 364 million, while daily active players also rose to 158 million.
King saw a small rebound in the number of monthly unique payers to 8.5 million, and monthly gross bookings per unique payer rose to $23.64.
[source: King]
Comments
Login to to leave a comment Or click here to register
Forgot password?
Password Reset
To reset your pass, please enter your email below and submit. Your new password will then be emailed to you.
You can change this pass at any time on the "edit profile" link when logged in.
Got your password?