Zynga: 2Q Earnings Snapshot
Posted Aug 5, 2020 06:56:29 PM.
Last Updated Aug 5, 2020 07:11:14 PM.
This article is more than 5 years old.
SAN FRANCISCO (AP) _ Zynga Inc. (ZNGA) on Wednesday reported a loss of $150.3 million in its second quarter.
The San Francisco-based company said it had a loss of 16 cents per share. Losses, adjusted for non-recurring costs and stock option expense, came to 1 cent per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The maker of “FarmVille” and other online games posted revenue of $451.7 million in the period. Its adjusted revenue was $518.1 million, beating Street forecasts. Eight analysts surveyed by Zacks expected $503.1 million.
Zynga shares have risen 65% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.07, a rise of 71% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZNGA at https://www.zacks.com/ap/ZNGA
The Associated Press
