King Digital Entertainment (KING) Stock Falling on Revenue Guidance

NEW YORK (TheStreet) --Shares of King Digital Entertainment (KING) are down by 4.87% to $14.26 in mid-morning trading on Friday, after the mobile games developer issued a warning concerning its revenues for the current quarter, which the Candy Crush maker said would be "seasonally softer."

The company's soft revenue for the second quarter is due to its game release schedule and the impact of foreign currency exchange.

King Digital released its earnings results after the market close on Thursday and its shares fell by as much as 12% in after-hours trading.

The company's financial results for the 2015 first quarter were better than analysts had expected with non-GAAP earnings coming in at 61 cents per share, topping the 53 cents per share analysts polled by Thomson Reuters were expecting.

Revenue for the first quarter was $569.5 million versus the $563.42 million analysts had forecast.

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