Wednesday, July 25, 2012

Farmville Definite Results Disappoint

Shares in Zynga, the amicable gaming firm at the back Farmville, have depressed as sufficient as 40% in after-hours trade subsequent to unsatisfactory results.

It reported a net loss of $108m (70m) is to initial 6 months of the year, compared with a distinction of $18m is to initial half of 2011.

It slashed its predict for full year gain to between 4 and 9 cents a share from 23 to 29 cents.

It took the shares shut to $3, good next December's $10 levity price.

Shares in Facebook moreover fell subsequent to the announcements from Zynga. Its games account for about 15% of Facebook's revenues.

Facebook releases its own quarterly results on Thursday.

Zynga blamed its lowered standpoint on delays in rising new games, a faster-than-expected reject in existing games and "reduced expectations for Draw Something".

Zynga paid for Draw Something for $200m progressing in the year.

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