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Last $2.48 USD
Change Today +0.01 / 0.40%
Volume 17.8M
ZNGA On Other Exchanges
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As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

zynga inc - cl a (ZNGA) Key Developments

Zynga Inc. Enters into the First Amendment to its Amended and Restated Revolving Credit Agreement

Effective on July 1, 2015, Zynga Inc. entered into the first amendment to its amended and restated revolving credit agreement, dated as of the effective date, among the company, the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent. The first amendment amended the company's amended and restated revolving credit agreement, dated as of June 20, 2013, among the company, the lenders party thereto and the administrative agent. The first amendment modified the definition of change in control in the credit agreement so that directors appointed or approved by the incumbent directors in connection with an actual or threatened proxy contest will be treated as continuing directors for purposes of determining whether a change in control has occurred as a result of continuing directors ceasing to hold a majority of the seats on the board of directors. No other material terms of the credit agreement changed in connection with the first amendment.

Zynga, Inc. Appoints Michelle Quejado as Chief Accounting Officer

On June 11, 2014, Zynga, Inc. appointed Michelle Quejado (age 48), the Company's Vice President, Corporate Controller as the Company's Chief Accounting Officer. Prior to joining the Company in March, 2015, Ms. Quejado held various financial roles at Lam Research Corporation between September 1999 and March 2015, most recently serving as its Assistant Corporate Controller.

Zynga to Close Maitland Office

Zynga will close an Orlando-area office and shut down the development of multiple sports titles. The move comes less than a year after the company opened the office. The company will shut down development of an NFL game and a Tiger Woods golf game.

Zynga Will Cut 364 Jobs

Zynga will cut 364 jobs, or 18% of its current staff, as part of a plan to eliminate $100 million in annual spending. The maker of games including 'FarmVille,' 'Clumsy Ninja' and 'Empire & Allies' said the job cuts will be spread out across its studios and will include contractors. Zynga said those moves will eliminate $45 million in annual savings. The San Francisco company intends to cut another $55 million in spending on outside and centralized services by late 2016.

Zynga Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015

Zynga Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $183,293,000 against $168,020,000 a year ago. Loss from operations was $54,069,000 against $70,257,000 a year ago. Loss before income taxes was $44,916,000 against $68,262,000 a year ago. Net income was $46,496,000 or $0.05 per diluted share against net loss of $61,183,000 or $0.07 per diluted share a year ago. Net cash used in operating activities was $47,002,000 against $24,246,000 a year ago. Acquisition of property and equipment was $2,112,000 against $1,234,000 a year ago. Adjusted EBITDA was $2,093,000 against $13,846,000 a year ago. Non-GAAP net loss was $6,713,000 or $0.01 loss per share against $6,258,000 or $0.01 income per share a year ago. First quarter results reflect the progress made in transition to mobile, which now represent 63% of total bookings, up 84% year-over-year. The company announced majority of cut expenditures will be non-labor related, such as dropping data centers and legal expenses. For the quarter, the company reported average daily bookings per average DAU (ABPU) increased from $0.064 in the first quarter of 2014 to $0.076 in the first quarter of 2015, up 18% year over year. On a consecutive quarter basis, ABPU was down 10% from $0.084 in the fourth quarter of 2014. Monthly unique payers (MUPs) in the first quarter of 2015 were 1.1 million, compared to 1.3 million in the first quarter of 2014. On a consecutive quarter basis, MUPs were up 8% from 1.0 million in the fourth quarter of 2014. Daily active users (DAUs) in the first quarter of 2015 were 25 million, compared to 28 million in the first quarter of 2014. On a consecutive quarter basis, DAUs were up 4% from 24 million in the fourth quarter of 2014. Web DAUs and Mobile DAUs were 6 million and 19 million in the first quarter of 2015, respectively. Monthly active users (MAUs) in the first quarter of 2015 were 100 million, compared to 119 million in the first quarter of 2014. On a consecutive quarter basis, MAUs were up 3% from 98 million in the fourth quarter of 2014. Web MAUs and Mobile MAUs were 24 million and 76 million in the first quarter of 2015, respectively. Monthly unique users (MUUs) in the first quarter of 2015 were 73 million, compared to 79 million in the first quarter of 2014. On a consecutive quarter basis, MUUs were up 10% from 66 million in the fourth quarter of 2014. First quarter increased mobile bookings - money spent directly by consumers - represents 84% growth year over year. The company provided earnings guidance for the second quarter of 2015. For the quarter, the company Revenue is projected to be in the range of $175 million to $190 million. Net loss is projected to be in the range of $54 million to $50 million. Net loss per share is projected to be $0.06 based on a share count projected to be approximately 905 million shares. Bookings are projected to be in the range of $145 million to $160 million. Adjusted LBITDA is projected to be in the range of $20 million to $10 million. Non-GAAP net loss per share is projected to be $0.02 based on a share count projected to be approximately 905 million shares.

 

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