A Candy Crush Saga hole sees King's sales down 14% to $490 million

Bitter pill

A Candy Crush Saga hole sees King's sales down 14% to $490 million

Mobile games publisher King (NYSE:KING) has announced its FY15 Q2 financials, for the three months ending 30 June 2015.

Revenue was $490 million, down 14 percent compared to the previous quarter.

Profits were down 27 percent to $164 million.

King explained the decline as being due to the maturing of its biggest franchise Candy Crush Saga, as well as the lack of a franchise to fill the gap caused by its decline.

This is despite the company having three games (including Candy Crush Saga) in the US top grossing top 10 on the App Store and Google Play during the quarter.

During the quarter, revenue from what the company labels "non-Candy Crush Saga games was $375 million, but in Q2 it dropped 14 percent to $324 million.

However, the company is still strongly cash positive, with reserves up to $786 million.

Down, down

Looking at players numbers, the trend is also down.

The number of monthly active players of King's games was down 9 percent compared to the previous quarter, although the total - 501 million - remains the highest in the industry.

In comparison, for the same period, Zynga had 83 million MAUs, Gameloft 162 million and EA Mobile 150 million.

King's daily active player base was down 10 percent to 142 million.

As expected the trend also impacted the number of monthly unique payers, which was down 11 percent to 7.5 million; that is 1.5 percent of people who play King's games buy in-app purchases.

The average amount paid monthly by a unique payer was down 2 percent to $23.26.

[source: King]

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