Zynga: 2Q Earnings Snapshot
SAN FRANCISCO (AP) _ Zynga Inc. (ZNGA) on Wednesday reported a loss of $55.8 million in its second quarter.
The San Francisco-based company said it had a loss of 6 cents per share. Losses, adjusted for stock option expense, came to 4 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The maker of “FarmVille” and other online games posted revenue of $306.5 million in the period. Its adjusted revenue was $376.4 million, beating Street forecasts. Five analysts surveyed by Zacks expected $363.3 million.
For the current quarter ending in October, Zynga said it expects revenue in the range of $380 million. Analysts surveyed by Zacks had expected revenue of $222.4 million.
The company expects full-year revenue of $1.5 billion.
Zynga shares have climbed 62% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.38, a rise of 68% in the last 12 months.