Zynga Q3 Beats Revenue Views, Losses In Line
Zynga Inc (NASDAQ: ZNGA) beat third-quarter revenue expectations Thursday and posted a loss in line with Wall Street's views.
The Santa Clara, California-based social game services company gained 6 percent in the extended session, trading recently at $2.50.
Zynga's daily active usersfell 13 percent in the third quarter to 26 million, from 30 million a year earlier.
Chief Executive Don A. Mattrick said the company "had some challenges" in the recent period "as we navigate through this time of transition."
The company hasn't had a major hit product in two years.
Zynga offered a fourth-quarter forecast in line with expectations, calling for adjusted results between a loss of $0.01 a share and earnings of $0.01 a share, on revenue of $170 million to $200 million.
Wall Street expects break-even per share on revenue of $200.1 million.
The company's third-quarter loss widened to $57 million, or $0.06 per share, from $68 million, or breakeven a share in the year-earlier period. Revenue fell to $176.6 million, from $202.6 million last year.
Adjusted results equaled a loss of $0.01 per share.
Wall Street expected a loss of $0.01 per share on revenue of $171.7 million.
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