King disclosed its financial results today as part of a filing to raise $500 million in an initial public offering. The disclosure gives a real picture of the financial state of the European company behind the smash mobile gaming hit Candy Crush Saga.
King said that it had profits of $568 million on revenues of $1.884 billion for 2013, compared to profits of only $7.8 million on revenues of $164.4 million in 2012. The success of one game and the huge growth of casual gaming on smartphones and tablets are largely responsible for this huge difference. The ability to play games anytime and anywhere is causing rapid expansion of the gaming audience.
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