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Zynga Fiscal First Quarter Results Beat Market Expectations (ZNGA)

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Zynga Inc. (NASDAQ: ZNGA) reported its fiscal first quarter revenue and earnings that surpassed the Wall Street expectations, nudging the shares higher in post trading hours.

After the closing bell ring, the Company shares gained 2%.


Excluding some items, the Company’s first quarter earnings stood at 6 cents per share while revenues stood at $329 million.

According to a poll conducted by Thomson Reuters, analysts were expecting the company to report earnings, excluding some items at 5 cents a share on revenue of $317 million.

Zynga reported that its net loss totaled $85.4 million, or 12 cents a share.

Commenting over the results, Mark Pincus, the company’s CEO and founder said, “We’re pleased with the progress that Zynga has made in the first quarter growing our audience reach 25 percent year over year and nearly 20 percent quarter over quarter.”

The better than expected results come amid growing disconcert among investors that the Company wasn’t growing quickly enough.

However, analysts polled by Thomson Reuters could not compare the numbers with last year’s results as Zynga was a private company.

In the last quarter, the company could not beat Wall Street’s revenues and earnings estimates though.

The Company’s product list includes games like “CityVille” and “Words With Friends.” The company recently acquired OMGPop, the maker of the mobile game “Draw Something.”

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Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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