King Digital Entertainment PLC, known for its popular "Candy Crush Saga" game, saw its shares plunge 11 percent in extended-hours trading Thursday, while shares of Mexican-style chicken chain El Pollo LoCo Holdings Inc. also tumbled, by 13 percent, although both companies posted better-than-expected earnings. Meanwhile, Symantec Corporation lost 3 percent after the security software maker’s quarterly results missed forecasts.
Here’s a deeper look into companies reporting after the closing bell:
Shares of King Digital Entertainment PLC (NYSE:KING) dropped 11 percent Thursday, despite handily topping Wall Street estimates for earnings and revenue, as the digital game maker’s outlook disappointed investors.
The company expects gross bookings of $490 million to $520 million in second quarter, down from gross bookings of $604.5 in first-quarter 2015.
The company reported first-quarter net income of $164.1 million, or 51 cents a share, on revenue of $569.5 million, compared with a profit of $127.20 million, or 41 cents a share, on sales of $607.57 million during the same period in 2014.
Wall Street had expected the company to report net income of $139.35 million, or 43 cents a share, on revenue of $563.42 million, according to analysts polled by Thomson Reuters.
Shares of King Digital dropped 11 percent to $13.20 in extended-hours trading. Since the company’s initial public offering in March 2014, shares have lost 17 percent.
El Pollo LoCo
Shares of El Pollo LoCo Holdings Inc. (NASDAQ:LOCO) tumbled 13 percent in after-hours trading -- despite the restaurant chain posting quarterly earnings in line with forecasts, while revenue beat expectations. The stock dropped after the company turned in weaker-than-expected same-store sales, which grew 5.1 percent, below Wall Street expectations of 5.7 percent.
The company reported first-quarter net income of $6.8 million, or 17 cents, as revenue rose 11 percent to $90.4 million, compared with a profit of $5.47 million, or 18 cents a share, on sales of $81.4 million during the same period in 2014.
Wall Street had expected the company to report net income of $6.95 million, or 17 cents, on revenue of $88.49 million, according to analysts polled by Thomson Reuters.
After the closing bell, El Pollo LoCo's stock dropped 13 percent to as low as $25.10. Since the company’s IPO in July, shares have gained nearly 21 percent.
Shares of Symantec Corporation (NASDAQ:SYMC) lost 3 percent after the security software maker’s earnings missed forecasts. Meanwhile, the Mountain View, California, company’s profit and revenue outlook for the year came in just short of estimates.
Symantec announced in October it plans to split into two publicly traded companies -- one focused on security and the other on information management. The board of directors expects to complete the spinoff by the end of December 2015.
For the quarter ended April 3, the company reported fiscal fourth-quarter net income of $176 million, or 25 cents a share, on revenue of $1.55 billion, compared with a profit of $217 million, or 31 cents, on sales of $1.65 billion during the same period in 2014.
In after-hours trading, Symantec’s stock dropped more than 3 percent to as low as $25.05 and has gained just 1 percent so far this year.