Categories AlphaGraphs, Earnings, Leisure & Entertainment
Zynga (ZNGA) Q2 revenues rise 47% but miss estimates
Social game developer Zynga, Inc. (NASDAQ: ZNGA) reported a sharp increase in second-quarter revenues. The company’s stock gained on Wednesday evening soon after the announcement.
Mobile revenues grew 51% from last year in the second quarter, aided by double-digit growth in bookings. Total revenues climbed 47% to $451.69 million but missed the Street view.
The company reported a net loss of $150.3 million or $0.16 per share for the three-month period, compared to a loss of $55.8 million or $0.06 per share in the prior-year quarter.
Zynga’s stock climbed to an eight-year high in early July, before paring a part of the gains in the following weeks. The stock closed Wednesday’s regular trading lower but made modest gains during the extended session.
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