Candy Crush maker King report “softer” times ahead

The company that produces Candy Crush Saga, King Digital Entertainment has said its revenues for the second quarter are not as good as expected because of the strength of the US Dollar compared to other foreign currencies which will impact on revenues.

King said that its gross bookings forecast for Q2 which is the indicator used for revenues  stood at $490 million to $520 million and warned that the following quarters could be softer but still expected growth in the last part of the year.

The dollar has surged about 9% against a whole host of major currencies in the first three months of the year.

News of the revenues warning for Q2 was no surprise for analyst’s but is a disappointment following good Q1 results of $164.1 million compared to $127.2 million on the previous year, however revenues were down in Q1 to $569.5 million but still surpassed analyst predictions of $563.4 million. King went public in March 2014 and its rival competitor Zynga reported increased revenues for its Q1 on the back of the popularity of game “Words With Friends” which was featured on popular TV comedy Big Bang Theory.