Zynga Forecasts Even Poorer Second Quarter Earnings and Revenue

24/7 Wall St.

zynga-logoZynga Inc. (NASDAQ: ZNGA) reported first quarter 2013 results after markets closed today. The social games company posted adjusted earnings per share (EPS) of $0.01 and revenues of $264 million. In the first quarter of 2012, Zynga reported EPS of $0.06 on revenues of $320.97 million. Bookings totaled $229.82 million in the quarter, far short of $329.16 million in the year-ago quarter. The Thomson Reuters estimates called for an EPS loss of $0.04 on $209.79 million in revenue.

On a GAAP basis, Zynga reported a break-even quarter for earnings.

The company forecast second quarter revenues in the range of $225 to $235 million, below the consensus estimate of $236.1 million. Zynga also forecast an adjusted EPS loss of $0.03 to $0.04 ($0.03 to $0.05 loss on a GAAP basis) and bookings of $180 to $190 million. The consensus estimate calls for an EPS loss of $0.01. For theā€¦

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