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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.

@tracehagan
Published Tue, Feb 5 2013 7:30 PM CST   |   Updated Tue, Nov 3 2020 12:24 PM CST

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.

Zynga shares see a boost after company beats Q4 earnings expectations | TweakTown.com

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 SOURCE:news.cnet.com

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

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