King suffers further quarterly losses

King Digital Entertainment, the interactive gaming company behind the hugely successful Candy Crush Saga title, has suffered widespread year-on-year financial losses during the three months though to September 30.

Revenue for the third quarter amounted to $514.4 million (€415.2 million), which represents a loss of 17% on the $621.2 million achieved in the same period last year.

Profit slumped by 38% from $229.8 million in Q3 of 2014 to $141.7 million in the latest quarter while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 26% to $216 million.

However, King did report an increase in both monthly unique and active users.

The number of monthly unique users jumped by 29% from 269 million in the third quarter of 2013 to 348 million this year, while monthly active users increased by 37% from 361 million to 495 million.

King also noted that it is relying less on its flagship Candy Crush Saga title with other, non-related games generating $264 million, representing 49% of total gross bookings in the quarter, up bt 167% on the amounted collected in the same period last year.

Riccardo Zacconi, chief executive officer of King, said: “With the launch of two new mobile games during the third quarter as well as the Facebook version of Candy Crush Soda Saga last month, we are continuing to execute on our strategy to develop a portfolio of games for our massive network of players.

“We have a consistent track record of developing successive hit games and as a result, have increased our non-Candy Crush Saga gross bookings to $264 million in third quarter 2014.

“If annualised, this represents more than a $1 billion run rate, and makes our non-Candy Crush Saga business larger than most every other mobile gaming company.”

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