Zynga Down Nearly 40%, Facebook Also Takes a Hit
Investors are abandoning Zynga (NASDAQ: ZNGA) in after hours trading after the company missed earnings and guided lower than expected.
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: LNKD) seems to have weathered the storm, however, as it is down less than one percent during this after hours session.
Follow me @LouisBedigianBZ
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.