The company reported a net loss of $58.8 million or $0.06 per share for the June quarter, compared to a loss of $0.9 million in the same period of last year. Analysts were looking for a profit.
The management has raised its full-year guidance and currently expects revenues of $1.24 billion for fiscal 2019, up 3% year-over-year. The revised forecast for full-year bookings is $1.5 billion, up 55% year-over-year and an increase of $50 million versus the prior guidance.
For the third quarter, the company expects revenues of $325 million. Net income and bookings are seen increasing to 250 million and $380 million respectively during the period. Deferred revenue is forecast to grow by $55 million.
The topline performance will continue to be driven by the live services in the September quarter, with moderate sequential growth collectively across the five ‘forever franchises.’ Meanwhile, the incremental contribution from Game of Thrones Slots Casino will be more than offset by declines in web and older mobile games.
A few months ago, Zynga launched Game of Thrones Slots Casino on App Store and Google Play, globally. More recently, it rolled out the Tiny Royale game exclusively on real-time multiplayer gaming platform Snap Games (SNAP).
After gaining steadily since the beginning of the year, Zynga’s shares
reached a seven-year high this week. The stock climbed about 60 in the past
twelve months. It closed Wednesday’s regular session slightly lower.