Zynga Reports $332 Million In Q2 Revenue
Zynga has reported their second quarter earnings today. The results fell short of analyst estimates on revenue and EPS. This is Zynga’s second quarter as a public company. At it’s highest point, the stock was trading at over $14.69 and now they are trading at around $5.08.
Zynga’s revenue was $332 million, which is up 19% year over year. Books were down 8% compared to the first quarter of 2012. Zynga reported a net income loss of $22.8 million due to a $95.5 million stock-based expense.
Zynga reported a diluted EPS loss of $0.03 for the second quarter and a non-GAAP EPS of $0.01. Zynga adjusted the outlook for the rest of 2012 to “reflect delays in launching new games, a faster decline in existing web games due in part to a more challenging environment on the Facebook web platform, and reduced expectations for Draw Something.”
Facebook will be reporting their first earnings as a public company tomorrow. If Zynga’s report is an indication of what is expected, things are not looking so good for the social network company either.