Zynga Down Nearly 40%, Facebook Also Takes a Hit

Investors are abandoning Zynga (NASDAQ:

) in after hours trading after the company missed earnings and guided lower than expected.

The company, which has been

to maintain its success at developing

Facebook (NASDAQ:

) games, is down nearly 40 percent today. The company reported a second-quarter EPS of $0.01 versus $0.06 estimates; revenues came in at $332 million versus $344.12 million estimates. Zynga's full-year EPS is just $0.04 to $0.09; the company had previously seen $0.23 to $0.29 versus $0.27 estimates. Since the announcement, Zynga shares have been tanking. Facebook is also taking a hit, dropping more than six percent in after hours trading. LinkedIn (NASDAQ:

) seems to have weathered the storm, however, as it is down less than one percent during this after hours session.