Tags: zynga | internet | game | revenue

Zynga Shares Rally as Revenue Rises, Beats Street

Wednesday, 24 Oct 2012 04:30 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Zynga Inc raised the lower end of its 2012 earnings outlook on Wednesday as the company reported a slight uptick in revenue that beat the Street's rock-bottom expectations.

Quarterly revenue rose to $317 million, an increase of 3 percent from a year ago, suggesting a worst case scenario may not happen after Zynga slashed its 2012 outlook earlier this month.

The company revised its full-year adjusted earnings to be in the range of $152 million and $162 million, up from $147 million and $162 million.

Shares of Zynga were up 15 percent to $2.46 in after-hours trade. The stock fell 3 percent during regular trading.

The game maker, which has been fighting to reverse a dramatic exodus of players, had cut its 2012 earnings forecast on Oct. 4 when it warned investors its top line would be affected by poor performance in core money-making Internet games like "CityVille".

Zynga recorded bookings of $256 million from July through September, the worst quarterly performance since late 2010 when the company was still enjoying a meteoric ascent toward its December, 2011 initial public offering.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved