'Candy Crush' maker stock drops 10% on guidance

Characters from King Digital Entertainment "Candy Crush" game stand for a photograph in front of a trading post on the floor of the New York Stock Exchange, March 26, 2014.
Jin Lee | Bloomberg | Getty Images

King Digital Entertainment, a maker of games for social media platforms and mobile devices, reported better-than-expected gross quarterly bookings, helped by the success of "Candy Crush Soda Saga."

However, the company reported weaker-than-expected guidance for 2015. King's stock price was trading down about 11 percent compared to its closing price to $13.34 on Thursday.

"We expect the mid-year period to be seasonally softer, returning to growth trends in the latter part of the year," the company stated in a press release.

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Total gross bookings, an indicator of future revenue, rose 3.1 percent to $604.5 million in the first quarter ended March 31 compared with the fourth quarter of 2014.

Analysts on average had expected bookings of $589.7 million, according to market research firm Factset StreetAccount.

Net income rose to $164.1 million, or 51 cents per share, from $127.2 million, or 41 cents per share, a year earlier.

Revenue fell 6.1 percent to $569.5 million.

— CNBC's Nana Sidibe contributed to this report