King +3.4%; bookings grow in spite of Candy Crush decline

|About: King Digital Entertainment Plc (KING)|By:, SA News Editor

In spite of softening Candy Crush Saga activity, KING Digital's bookings rose to $641.1M in Q1 from $632.1M in Q4. On a Y/Y basis, bookings were up nearly 3x. Adjusted EBITDA rose over 3x to $248.6M.

Daily active users grew 15% Q/Q and 297% Y/Y to 143M, and monthly active users 18% Q/Q and 249% Y/Y to 481M. One weak spot: Monthly unique payers fell to 11.86M from 12.17M at the end of Q4. Gross average bookings per paying user rose $18.02 from $17.32.

Candy Crush accounted for 67% of Q1 bookings, down from 78% in Q4.King had three top-10 games in the App Store and Google Play in the U.S., and on Facebook worldwide.

Including stock compensation expense, R&D spend more than doubled Y/Y to $46.8M, and sales/marketing spend rose over 3x to $129.1M.

Q1 results, PR