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, which has been struggling to maintain its success at developing simplistic, mainstream-friendly Facebook (NASDAQ: FB) games, was down as much as 40 percent.

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.

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