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King Digital shares fell as much as over 14% in after hours trading after it warned of weaker profits.

Candy Crush maker said it expects fluctuations in foreign currency and a lack of new releases to hold back its earnings in the current quarter.

The big drop in King Digital (KING) shares came despite the release of first quarter sales figures that beat market expectations.

The company has been struggling to increase market share.King Digital Candy Crush Saga shares

King Digital’s revenue fell 6.1% to $569.5 million in the first three months of the year from a year ago, but that was higher than analysts’ forecasts of $563.4 million.

“We look toward the remainder of the year, we expect the mid-year period to be seasonally softer, returning to growth trends in the latter part of the year,” the company said in a statement on May 14.

The company is launching a new game this year, but that will not be released until the later half of the year.

King Digital said that falls in both gross bookings and revenue in the first quarter were largely due to lower sales from its Candy Crush Saga and other “more mature games” – a sign that players are moving on to other games.

Facebook posted a slower revenue growth in the first quarter of 2015 with a profit of $512 million, down 20% on a year earlier.

Revenue rose 42% to $3.5 billion, a figure slightly below analysts’ forecasts.

A bright spot was the rise in monthly active users, up 13% from a year earlier to 1.44 billion.

Notably, for those investors concerned about the company’s efforts to appeal to younger users who access Facebook on their smartphones, monthly mobile users increased by 24% to 1.25 billion, a majority of the site’s users.Facebook revenue growth 2015

Facebook has been particularly adept at channeling that growing mobile user base into advertising dollars. The company said that during the quarter, revenue from mobile ad sales made up nearly three-quarters of total ad sales.

Investors have been worried about slowing revenue growth, as well as increasing costs at the company. Facebook has been spending more on research and development as it moves beyond its original social networking operation.

Spending on research and development jumped to $566 million from $181 million a year earlier.

Facebook has warned that those costs are set to increase, as it looks to expand some of its acquisitions including photo-sharing site Instagram, messaging service WhatsApp, and virtual reality company Oculus Rift.


BP has reported profits of $3.22 billion for 2014 Q1.

The figure is a fall of 23% on the $4.22 billion for the same period in 2013, but that quarter included a $12.5 billion gain from BP’s sale of its stake in Russian venture TNK-BP.

The oil giant’s latest profit figure, which strips out the effect of oil price movements, was ahead of forecasts.

BP has reported profits of $3.22 billion for 2014 Q1

BP has reported profits of $3.22 billion for 2014 Q1

BP also said it would increase its dividend by 8%.

It said it would pay 9.75 cents a share – the second dividend increase in six months.

BP said its first quarter results had been affected by write-offs in its exploration activity, as well as lower production, which it said would edge lower in the second quarter.

On Monday, BP said it would not sever its ties with Russian company Rosneft, in which it owns a 20% stake, despite Rosneft’s chief executive being the target of another round of US sanctions.

Igor Sechin is on a list of individuals thought to be in Vladimir Putin’s “inner circle”, whose assets will be blocked in the US, following Russia’s intervention in Crimea and Ukraine.

But BP said it would continue to work with Rosneft, despite the sanctions, which prevent US companies from engaging with those named.

Igor Sechin has also said sanctions imposed on him will not affect Rosneft.


McDonald’s has reported a lower profit for 2014 Q1 after sales in its US restaurants fell by more than expected.

McDonald’s said group like-for-like sales had risen 0.5% overall, but US sales had fallen 1.7% due partly to the severe winter weather.

Analysts had forecast a 1.4% drop in like-for-like US sales.

McDonald's has reported a fall in profits for 2014 Q1 after sales in its US restaurants fell by more than expected

McDonald’s has reported a fall in profits for 2014 Q1 after sales in its US restaurants fell by more than expected

The sales drop meant net income fell to $1.2 billion from $1.27 billion a year earlier.

In Europe, comparable sales rose 1.4% in the first quarter with a positive performance in the UK, France and Russia.

However, McDonald’s said sales in Germany, Japan and Australia were weaker.

The company said it was focused on stabilizing its performance in these markets, as well as the US.

McDonald’s, which is the world’s largest fast food business, has been battling against weak economic growth in its home US market.

The company’s chief executive has previously said he plans to strengthen the chain’s appeal to its less well off customers.

McDonald’s also intends to offer new higher-priced products to keep drawing in customers who are prepared to spend more.

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