logo
  Join        Login             Stock Quote

Zynga (ZNGA) Posts Surprise Q4 Profit, Revenue Forecast Tops Street

 February 05, 2013 04:15 PM


(By Balachander) Zynga Inc. (NASDAQ: ZNGA) reported an unexpected profit for the fourth quarter amid flat revenue and sharp drop in expenses and the social gaming company guided revenue above Wall Street projections.

Shares gained 6.20 percent in extended trading on Tuesday.

On a non-GAAP basis, the San Francisco-based company earned a cent per share, versus market expectations of a loss of 3 cents a share for the fourth quarter.

GAAP loss was $48.56 million, compared with a loss of $435 million in the comparable period of last year.

Revenue was $311 million, flat with last year, while Wall Street analysts projected a drop of 31 percent to $212 million. Online game fell 3 percent. Advertising revenue jumped 35 percent.

[Related -Facebook Inc. (FB) Q2 Earnings Preview: Scoring Big on the World Cup]

Bookings fell 15 percent to $261 million.

Daily active users (DAUs) increased 3 percent to 56 million on a year-over-year basis.

Total costs and expenses dropped 66 percent.

In the preceding third quarter, Zynga posted breakeven earnings on a non-GAAP basis and a loss of 7 cents on a GAAP basis. The company recorded revenue of $317 million.

Looking ahead for the first quarter, the company expects non-GAAP loss to be between 4 cents and 5 cents on revenue in the range of $255 million to $265 million. Zynga forecast bookings in the range of $200 million to $210 million. Analysts expect a loss of one cent on revenue of $240 million.

[Related -Facebook Inc. (NASDAQ:FB): A 3T Review: Is FB About to Face Plant?]

Late last year, the online social gaming company amended terms of agreement with Facebook (NASDAQ: FB). Zynga will no longer be separately obligated to display Facebook ad units or implement Facebook credits on any such Zynga game pages.

The stock, which has been trading in the 52-week range of $2.09 to $15.91, ended at $2.74 on Tuesday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageBaidu Inc. (BIDU): Climbing Towards Morgan Stanley’s $239.30 Target

Baidu Inc. (ADR)(NASDAQ:BIDU) is up handsomely today, mostly thanks to an upgrade from Morgan Stanley. read on...

article imageCrocs, Inc. (CROX) Q2 Earnings Preview: Cutting Costs Key for Option Bulls

Crocs, Inc. (NASDAQ:CROX) will post its second-quarter 2014 financial results and business before the read on...

article imageApple Inc. (AAPL) Q3 Earnings Preview: A Hiccup in Sentiment?

Apple Inc. (NASDAQ:AAPL) will post its third-quarter 2014 financial results and business after the market read on...

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.