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.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry