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Zynga shares see a boost after company beats Q4 earnings expectations

Zynga reports fourth quarter financial results, does better than expected

| Business, Financial & Legal News | Posted: Feb 6, 2013 1:30 am

Zynga, the social gaming company that made it big on Facebook, has seen a boost in its share prices after beating fourth quarter expectations. The company announced its fourth quarter results today, which were higher than previously expected and included a 1 cent per share earning on an adjusted basis.

 

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Previous estimates had Zynga losing 3 cents per share. Zynga's stock has received a "buy" rating from Bank of America/Merrill Lynch and has ticked up in after hours trading. First quarter results are expected to be a loss between $32 million and $12 million on revenues of $255 million to $265 million.

 

  • Revenue: $311.2 million.
  • Bookings: $261.3 million, down 15 percent from year earlier but an increase of 2 percent compared to the third quarter of 2012.
  • Net loss: $48.6 million compared to $435 million net loss in fourth quarter of 2011.
  • Diluted EPS: ($0.06) for the fourth quarter of 2012 compared to ($1.22) for the fourth quarter of 2011 and ($0.07) for the third quarter of 2012.
  • Cash and cash flow: As of December 31, 2012, cash, cash equivalents and marketable securities were approximately $1.65 billion.

NEWS SOURCES:News.cnet.com

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