Reveals Record Q1 FY 2014 Revenues

In its first earnings report as a publicly traded company Candy Crush Saga maker reported revenue of $606.7 million for the first fiscal quarter of 2014. The company claims that it currently has 143 million active users participating in its games on a daily basis. King's profits reached $127.2 million and mobile gross bookings for the quarter reached a record quarterly high of $480 million.

One of King's challenges in the future is to diversify the attention of gamers who still seem to be fascinated and entertained by its marquee title, Candy Crush Saga. Candy Crush Saga accounted for 67 percent of gross bookings for the first quarter of 2014, a drop from making up 78 percent of bookings for the fourth quarter of 2013.

"We are pleased with our first quarter 2014 results and are executing on our plan to build a strong portfolio of games," said King CEO Riccardo Zacconi said in a statement. "Our existing titles are performing well, and with the strong performance of Farm Heroes Saga following its January mobile launch, we had three games in the top 10 grossing games list on all major platforms for the first quarter. With the massive reach of our player network, our existing portfolio of highly engaging games, and our development plan for additional games well underway, we are well-positioned for gross bookings growth and diversification in 2014."

"We believe the increases in daily active users and monthly active users reflect the continued growth of our player network coupled with a greater number of games being installed and played by our existing player base," reads the report. "We believe this increased activity is due to our introduction of additional games and our releases of new content on existing games, as well as our geographic expansion and the overall growth in consumer usage of mobile devices."

You can check out King's report for Q1 FY14 here.

Source: Polygon

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