Candy Crush maker King Digital just turned in a better-than-expected quarter and now the stock is surging.
Shares of Candy Crush maker King Digital were up better than 15% in after hours trade on Thursday after the company reported earnings that beat expectations.
In the fourth quarter, the company reported adjusted earnings per share of $0.57, topping estimates by $0.10 per share.
In the fourth quarter the company reported adjusted revenue of $559.2 million and gross bookings of $586 million.
The company also announced a $300 million, or $0.94 per share, special dividend payable to shareholders on March 24.
This is the third straight quarter the company has returned cash to shareholders.
King also announced that on February 6 it signed an agreement to acquire Z2Live, a game development company based in Seattle, Washington. Total consideration for the acquisition consists of $45 million in cash, and up to $105 million of additional cash linked to future events.
Additionally, the company is undertaking a share repurchase plan, receiving approval from shareholders on January 29 for a $150 million program.
Between January 29, 2015 and February 11, the company repurchased $10 million worth of stock under this program.
The digital game maker, which went public in March 2014, is down about 20% over the last six months.
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