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Zynga Hot News - blames earnings shortfall in part on Facebook

Kamis, 26 Juli 20120 komentar

Facebook shares pressured by Zynga ahead of results

  • NEW YORK (Reuters) - Facebook shares tumbled ahead of its first quarterly results announcement as a public company on Thursday, hurt by a weak quarterly report and a grim outlook from online game developer Zynga. (43)
  • Facebook Inc shares dropped 7 percent to $27. 65 in premarket trading while Zynga Inc slumped 40 percent to $3. 04 - the two most heavily traded stocks before the bell on Nasdaq. s another black eye for Wall Street. said Joe Saluzzi, co-founder of Themis Trading LLC in Chatham, New Jersey. not creating good confidence in the sector as they (social media companies are) certainly related to each other." s revenue last year. s quarterly results badly missed Wall Street targets. (44)
  • A number of brokerages cut their price targets on the company on Thursday, including Wedbush, Citigroup and Lazard, casting some uncertainty over Facebook ahead of its inaugural results after the close of trading Thursday. (40)
  • Since the IPOs, shares of Facebook and Zynga have been in a downward spiral. Facebook, at $28. 45, is off nearly $10 from its market debut price of $38 in May, and Zynga is at $4. 92, nearly half its debut price of $9. 50 in December. (49)
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Zynga Plunge Drags Facebook as Gaming Results Miss Estimates



  • July 26 (Bloomberg) -- Zynga Inc. , the biggest developer of games played on Facebook Inc. ’s social network, fell the most since its December initial public offering after missing analysts’ second-quarter revenue and profit estimates. (75)
  • The company makes the five most popular games played on Facebook, according to AppData. “Texas HoldEm Poker,” with 35. 2 million monthly active users, and “Bubble Safari,” with 28. 2 million users, top the social gaming charts. (68)
  • Three of Zynga’s oldest games accounted for 60 percent of its revenue in the quarter, with “FarmVille” contributing 29 percent of sales, poker making up 18 percent, and “CityVille” generating 13 percent, Chief Financial Officer Dave Wehner said on a call with analysts yesterday. (73)
  • This material may not be published, broadcast, rewritten or redistributed. Published 07:08 a. m. Zynga Inc. , the biggest developer of games played on Facebook Inc. ’s social network, fell the most since its December initial public offering after missing analysts’ second-quarter revenue and profit estimates. (92)


Original Content

Zynga blames earnings shortfall in part on Facebook


  • A drop in sales of virtual goods from the first quarter is a sign of fatigue among users, said Arvind Bhatia, an analyst at Sterne Agee & Leach Inc. “It’s a disaster,” said Bhatia, who is based in Dallas. “It’s starting to look more and more like a fad, and any hope of a second-half recovery is shot with these kinds of numbers. (80)
  • The company makes the five most popular games played on Facebook, according to AppData. “Texas HoldEm Poker,” with 35. 2 million monthly active users, and “Bubble Safari,” with 28. 2 million users, top the social gaming charts. (111)
  • Three of Zynga’s oldest games accounted for 60 percent of its revenue in the quarter, with “FarmVille” contributing 29 percent of sales, poker making up 18 percent, and “CityVille” generating 13 percent, Chief Financial Officer Dave Wehner said on a call with analysts yesterday. (93)


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