Zynga Inc. Q3 Beats Rev Views; Losses In Line

Loading...
Loading...
Zynga Inc.
ZNGA
beat third-quarter revenue expectations Thursday and posted a loss in line with Wall Street's views. The Santa Clara, Calif., social game services company gained 6 percent in the extended session, trading recently at $2.50 a share. Zynga's daily active usersfell 13 percent in the third quarter to 26 million, from 30 million a year earlier. Chief Executive Don A. Mattrick said the company "had some challenges" in the recent period "as we navigate through this time of transition." The company hasn't had a major hit product in two years. Zynga offered a fourth-quarter forecast in line with expectations, calling for adjusted results between a loss of $0.01 a share and earnings of $0.01 a share, on revenue of $170 million to $200 million. Wall Street expects break-even per share on revenue of $200.1 million. The company's third-quarter loss widened to $57 million, or $0.06 cent a share, from $68 million, or break-even a share in the year-earlier period. Revenue fell to $176.6 million, from $202.6 million last year. Adjusted results equaled a loss of $0.01 cent per share. Wall Street expected a loss of $0.01 cent a share on revenue of $171.7 million. Read more: http://www.nasdaq.com/press-release/zynga-announces-third-quarter-2014-financial-results-20141106-01707#ixzz3IKVGUqPO
Posted In: EarningsNewsGuidanceAfter-Hours Center
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...