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Candy Crash

Tyler Durden's picture




 

Who could have seen that coming? Oh apart from all the 14 analysts that cover it (9 Buys, 5 holds). KING is down 25% after hours, at record lows after missing on revenues, gross bookings, and active users and slashing outlook:

  • *KING 2Q REV. $593.6M, EST. $605.7M
  • *KING CUTS OUTLOOK FOR YEAR '14 GROWTH RATES

In a desperate attempt to save the stock price they announced a huge $150 million (46.9c per share) special dividend...but it's not working.

 

Oops...

 

 

Don;t worry these guys have your back...

 

The data:

  • King Digital 2Q adj. EPS 59c, est. 59c.
  • 2Q rev. $593.6m, est. $605.7m
  • Gross bookings $611.1m vs $641m q/q; says q/q decrease in gross bookings due to lower gross bookings from
  • Candy Crush Saga
  • Sees 3Q gross bookings $500m-$525m; sees q/q bookings growth in 4Q
  • Sees year gross bookings $2.25b-$2.35b
  • 2Q monthly active users up 1% q/q to 485m; daily active users down 3% q/q to 138m

 

Charts: Bloomberg

 

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Tue, 08/12/2014 - 16:22 | 5083566 _ConanTheLibert...
_ConanTheLibertarian_'s picture

What a saga.

Tue, 08/12/2014 - 16:23 | 5083579 Aknownymouse
Aknownymouse's picture

Candy Crushed

Tue, 08/12/2014 - 16:29 | 5083642 Hugh G Rection
Hugh G Rection's picture

Does this mean I wont get 12 annoying game requests from my half retarded cousin on facebook every hour?

Tue, 08/12/2014 - 16:47 | 5083770 Aknownymouse
Aknownymouse's picture

Actually it probably means you will get 36

Tue, 08/12/2014 - 16:54 | 5083811 max2205
max2205's picture

Slight PE problem

That mobile ad is on ZH btw....I fucking hate it and the others

Make this a paid site please!

Tue, 08/12/2014 - 17:46 | 5084147 ebworthen
ebworthen's picture

AdBlock Plus or AdBlock Edge - work like a charm.

I'm going to get out my Pet Rock and polish it, and fire up the old SEGA.

Wed, 08/13/2014 - 00:12 | 5085733 Four chan
Four chan's picture

lol!

Tue, 08/12/2014 - 16:23 | 5083570 RacerX
RacerX's picture

Hail to the KING, baby!

Tue, 08/12/2014 - 16:42 | 5083738 JuliaS
JuliaS's picture

The KING is dead. Long live the KING.

Tue, 08/12/2014 - 17:22 | 5083997 S.M.T.U.Q.I.
S.M.T.U.Q.I.'s picture

King cobra, king kong. Donkey kong. Kongo

Wed, 08/13/2014 - 02:42 | 5086003 _ConanTheLibert...
_ConanTheLibertarian_'s picture

What are you waiting for, Christmas?

Tue, 08/12/2014 - 16:25 | 5083594 Dr. Engali
Dr. Engali's picture

Nobody could have seen that coming.

Tue, 08/12/2014 - 16:58 | 5083841 Agent P
Tue, 08/12/2014 - 17:07 | 5083890 Dr. Engali
Dr. Engali's picture

Lol..... That's funny. Did you see nodebt's comment in that thread?

Tue, 08/12/2014 - 17:24 | 5084012 Agent P
Agent P's picture

Yep....I'm so glad we get to have fun with this again....I was laughing my ass off that day. 

Tue, 08/12/2014 - 17:25 | 5084018 disabledvet
disabledvet's picture

I was laughing at mine actually. We're well beyond the lipstick phase looks like the bacon ain't going over too well either.

Tue, 08/12/2014 - 16:27 | 5083625 youngman
youngman's picture

They advertise some new game down here all the time...a witch thing..and its a terrible add.....it does not make sense at all....

Tue, 08/12/2014 - 16:40 | 5083727 thethirdcoast
thethirdcoast's picture

LOL

Tue, 08/12/2014 - 16:43 | 5083743 Keltner Channel Surf
Keltner Channel Surf's picture

"Candy Says, I've come to hate my stock price . . ."

 

Tue, 08/12/2014 - 16:43 | 5083744 JuliaS
JuliaS's picture

What I find shocking is the $600m posted revenue. I was expecting a dollar.

Tue, 08/12/2014 - 16:46 | 5083764 Cognitive Dissonance
Cognitive Dissonance's picture

If it was considered 'outperform' and 'overweight' before, imagine how much gooder it will be now that it has lost a few pounds.

Wed, 08/13/2014 - 07:29 | 5086301 Septicus Maximus
Septicus Maximus's picture

"Even more better" FTFY

 

 

Tue, 08/12/2014 - 16:48 | 5083777 astoriajoe
astoriajoe's picture

Special dividend?

They're supposed to lever up and announce a repurchase program equal to half the company.

Amateurs.

Tue, 08/12/2014 - 17:02 | 5083872 Fuku Ben
Fuku Ben's picture

The F-1 reads like an F-U

You get what you deserve when you listen to an ANALyst

Tue, 08/12/2014 - 17:03 | 5083874 Impoverished Ps...
Impoverished Psychologist's picture

I think it is highly probable that these games are used to identify those who need to be culled.

Anyone who spends hours joining up groups of coloured blobs using a machine which is an order of magnitude or two more powerful than the computer that landed men on the moon needs to be thrown in a ditch.

We built the internet to join up dots.... come on guys.

 

Tue, 08/12/2014 - 17:21 | 5083988 starman
starman's picture

It's not all well in Candy Land.

Tue, 08/12/2014 - 17:22 | 5083994 juggalo1
juggalo1's picture

Why would they have a special dividend within a year of going public?  What the hell is wrong with them?  Why don't they just admit that they are no longer entertaining and pull a Robin Williams?

Tue, 08/12/2014 - 17:25 | 5084019 kito
kito's picture

doesnt this company make one popular game? one? its like putting the knack in the rock and roll hall of fame because they hit big with my sharona........................

Tue, 08/12/2014 - 17:40 | 5084124 Catflappo
Catflappo's picture

Hey - I know - let's do an IPO and then pay some of the money straight back via a dividend!

I'm sure the underwriters, and other assorted investment bank leeches will be more than happy to refund their fees on this portion of it...

Tue, 08/12/2014 - 17:46 | 5084150 Rouge Trader
Rouge Trader's picture

Finally, some sanity restored in the market. Should have loaded the truck with puts on this fat pig the past few days. 

Tue, 08/12/2014 - 18:22 | 5084310 bluskyes
bluskyes's picture

Hind-sight is always 20/20. Fore-sight, is always a fog.

Tue, 08/12/2014 - 18:14 | 5084274 adr
adr's picture

The biggest travesty was they were allowed to IPO and made the sacks of shit running the company millions of dollars.

The company copies a game that has been out for years, tries to trademark the word candy, and still gets called a successful business.

Tue, 08/12/2014 - 18:24 | 5084318 SheepDog-One
SheepDog-One's picture

A whole generation of 'gamers' who can't throw a ball 10 feet and have a real street smarts IQ of a turnip.

Wed, 08/13/2014 - 00:47 | 5085818 zeronero
zeronero's picture

That's nothing. How is Facebook worth $190 billion? It has a declining user base.

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