Zynga Sales Top Estimates as Slot Machine Games Register GainsChristopher Palmeri
Zynga Inc., the social-gaming pioneer whose co-founder Mark Pincus returned to lead the company in April, reported second-quarter sales that beat analysts’ estimates
Revenue rose 30 percent to $199.9 million, the San Francisco-based company said Thursday in a statement, beating the $188.6 million average of 11 estimates compiled by Bloomberg. Zynga reported a loss of 1 cent a share, excluding items, smaller than the 2-cent loss forecast by analysts.
Pincus cited growth of core franchises, such as FarmVille and Words with Friends. The company has also been investing in its original business, casino-style play. Bookings on slot-machine-based games grew 32 percent quarter-over-quarter, and Zynga announced it licensed Willy Wonka & the Chocolate Factory for such use.
Zynga fell 2.4 percent $2.45 at the close in New York and is down 7.9 percent this year.
This quarter, Zynga sees revenue of $175 million to $190 million, bookings of $155 million to $170 million and a loss of 1 cent to 2 cents a share, excluding items.