Zynga Posts Narrower Q2 Loss
Zynga Inc (NASDAQ: ZNGA) reported a narrower-than-expected adjusted loss for the second quarter.
The San Francisco, California-based company reported a quarterly net loss of $26.9 million, or $0.03 per share, versus a year-ago loss of $62.5 million, or $0.07 per share. Non-GAAP loss came in at $0.01 per share versus non-GAAP earnings of $0.00 per share.
Its total revenue climbed 30 percent year-over-year to $199.9 million. However, analysts were expecting a loss of $0.02 per share on revenue of $156.84 million.
The average estimate among 59 Estimize users was for a loss of $0.01 per share and revenue of $170.17 million.
Online game revenue climbed 24 percent year-over-year to $162 million, while advertising and other revenue jumped 70 percent to $38 million.
Bookings came in mostly flat at $174 million for the second quarter.
Average daily active users shrank to 21 million in the second quarter, versus 27 million in the year-ago quarter. Average monthly active users dropped to 83 million, from 121 million in the year-ago quarter.
As of June 30, 2015, the company has around $1.10 billion in cash, cash equivalents and marketable securities, versus $1.10 billion as of March 31, 2015.
"Our teams have been executing well and delivered strong Q2 results while also making significant progress against our best growth opportunities. In terms of our core franchises -- FarmVille, Slots, Poker and Words With Friends -- we beat our expectations and the teams did a good job delivering value for our players. We also launched Empires & Allies and FarmVille: Harvest Swap in Q2, and are excited for the upcoming launches of Dawn of Titans, CSR2 and our new Slots game later this year," said Mark Pincus, CEO and Chairman, Zynga.
The company expects a Q3 loss of $0.02 to $0.01 per share, on sales of $175 million to $190 million. Analysts projected earnings of $0.00 per share on revenue of $174.84 million.
Zynga shares fell 0.41 percent to $2.44 in the after-hours trading session.
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