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Technology Stocks : Zynga, Inc.

ZNGA 8.180

0.0%

Sep 8 5:00 PM EST

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From: Glenn Petersen	4/24/2013 4:44:21 PM
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ZNGA down about 10% inn AH trading. The press release: finance.yahoo.com Zynga posts lower 1Q revenue, shares fall Zynga reports 1st-quarter net income, reversing loss, but revenue falls 18 percent Associated Press April 24, 2013 SAN FRANCISCO (AP) -- Zynga is reporting a small profit in the first three months of the year, as the online game company reduced expenses. But a revenue decline and a lower-than-expected second-quarter forecast are sending its stock tumbling. Zynga Inc. said Wednesday that it earned $4.1 million, or a breakeven per share. A year earlier, it lost $85.4 million, or 12 cents per share. Adjusted earnings were 1 cent per share, compared with expectations for a loss of 3 cents. Revenue fell 18 percent to $263.6 million. FactSet says analyst had expected revenue of $264.5 million. For the current quarter, Zynga is forecasting an adjusted loss of 3 cents to 4 cents per share on revenue of $225 million to $235 million. Analysts were expecting a smaller loss and higher revenue. finance.yahoo.com

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