King Digital (KING) Tops Q3 EPS by 9c, Revenue Beats, Approves $150M Buyback, Offers Outlook

(Updated with correct comparable EPS and revenue figures.)

King Digital Entertainment plc (NYSE: KING) reported Q3 EPS of $0.56, $0.09 better than the analyst estimate of $0.47. Revenue for the quarter came in at $523.4 million versus the consensus estimate of $495.3 million.

Share Repurchase Program

On November 4, 2014, the Company's Board of Directors approved a share repurchase program of a maximum of $150 million of the Company's ordinary shares to be effected through open market purchases. This program is subject to requisite regulatory and shareholder approvals which the Company is seeking to obtain during the first quarter of 2015.

Outlook

Based on recent results and our insights into the fourth quarter of the year, the Company expects gross bookings of $525 million to $550 million in fourth quarter 2014.

For earnings history and earnings-related data on King Digital Entertainment plc (KING) click here.

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