Zynga Shares Tumble On Q2 Earnings

Benzinga

Zynga (NASDAQ: ZNGA) on Thursday posted some disappointing figures on its second quarter earnings report. Following the release, the stock fell more than eight percent.

Zynga's EPS came in inline with consensus at $0.00, however, its top-line missed significantly at $153.20 million vs. $191.21 million.

Adding to investors disappointment, the company lowered its fiscal 2014 EPS guidance from $0.01-0.03 to $(0.01).

On the plus side, Zynga was able to deliver mobile audience growth of 22 quarter-over-quarter for monthly active user and 12 percent for daily active users.

"While our quarterly financial results were in line with our guidance range, we aspire to do better and improve execution across our business," said Don Mattrick, CEO of Zynga."Inside Zynga, we recognize that our products have the potential to live for multiple years and with nurturing, refinement and investment, they can grow and scale. We are purposefully competing, and while we would like to be further along, we believe we are making the right decisions to grow our business and unlock long term shareholder value."

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