U.S. Markets closed

Zynga Stock Stagnates on Q3 Revenue and Q4 Forecast Miss

Karl Utermohlen

Zynga stock (NASDAQ:ZNGA) was relatively unmoved late in the day as the company reported its latest quarterly earnings results after the bell, which were below what analysts were expecting.

Zynga Stock

The gaming company said that for its third quarter of fiscal 2018, it brought in net income of $10.2 million, or a penny per share, which is up from its loss from the year-ago quarter of less than $1 million. Analysts were calling for the company to bring in a GAAP loss of a penny per share.

Zynga added that for the period, it brought in revenue of $233.2 million, which is stronger than the $217 million in revenue that analysts were calling for. The company also said that its net increase in deferred revenue came in at $248.9 million, which is higher than the company’s forecast, but below the Wall Street guidance of $250.1 million, according to data compiled by FactSet.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

The company said that for its fourth quarter of the fiscal year, it is calling for a net loss of $2 million on bookings of $250 million for the holiday season, while analysts see a GAAP profit of 2 cents per share on bookings of $268.4 million.

ZNGA stock was down more than 0.8% during regular trading hours in anticipation of the company’s quarterly earnings results on Wednesday. Shares were unmoved after the bell on hump day as the company’s revenue and forecast for the current quarter missed the mark.

More From InvestorPlace

Compare Brokers

The post Zynga Stock Stagnates on Q3 Revenue and Q4 Forecast Miss appeared first on InvestorPlace.