Zynga Jumps After Q4 Results; Company Reports Strong Sales
Social game developer Zynga (NASDAQ: ZNGA), which has struggled mightily since coming public, reported fourth-quarter earnings and revenue results which came in ahead of Street consensus. The stock gapped higher at Tuesday's open and closed the trading session with a gain of more than 7 percent. In the after hours, traders have pushed ZNGA up another 5 percent on the back of bullish results.
The company reported a loss of $48.6 million or $0.06 per share, compared to a massive $435.0 million or $1.22 per share, loss in last year's fourth-quarter.
On an adjusted basis, which is comparable to analysts' consensus estimates, Zynga eked out a profit. The company reported Q4 net income of $6.9 million or $0.01 per share, versus $37.2 million or $0.05 per share, last year. This beat analysts' consensus EPS estimates which called for a loss of $0.03 per share.
Revenue in the period was well ahead of estimates. The company reported revenue of $311.17 million versus $311.24 million in the year ago period. This easily beat Wall Street analysts' consensus revenue estimates of $212.11 million.
Looking ahead, the company said that it sees first-quarter revenue between $255 million to $265 million and a net loss of $0.04 to $0.02 per share. This compares to current consensus calling for a loss of $0.01 per share on revenue of $240.03 million.
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