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.

Zynga Q2 2020 Mobile Performance Trend

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.

Looking forward to listening to management/analysts’ comments on Q2 results? Stay tuned here for Zynga’s Q2 2020 earnings call transcript 

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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