King takes a serious beating on Wall Street

Mobile game company King Digital Entertainment (Candy Crush) took a serious beating on Wall Street after its first earnings called since the March IPO reported that game players had decreased from 12.2 million in fourth quarter 2013 to 11.9 this quarter. Bloomberg reports the stock initially increased three percent, and then fell 14 percent, although its earning report – at 61 cents a share and revenue of $607 million – was more than analysts predicted. At the time of the IPO, there were fears that the company was relying too much on Candy Crush, which accounted for 67 percent of King’s revenue.

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