Zynga Posts Bookings Below Estimates; Will Close Beijing Office

Advertisement
By Reuters | Updated: 13 February 2015 10:58 IST
"FarmVille" creator Zynga Inc reported lower-than-expected quarterly bookings as releases such as "New Words with Friends" failed to excite gamers.

Shares of the company, which also forecast current-quarter bookings below analysts' estimates, fell 10 percent in extended trading.

The mobile games company said it would close its Beijing office by June 30 and lay off all 71 employees.

Advertisement

Zynga reported bookings of $182.4 million for the fourth quarter. Analysts on average had expected $201.5 million, according to research firm StreetAccount.

The developer of "Zynga Poker" forecast current-quarter bookings of $140 million-$150 million, below the average analyst estimate of $202.9 million.

Advertisement

Zynga records the sale of virtual goods and downloads as deferred revenue, which is recognized as these goods are consumed. Bookings equal revenue recognized in a period plus the change in deferred revenue.

"Candy Crush Saga" creator King Digital Entertainment Plc reported higher-than-expected quarterly revenue and profit as newer games such as "Candy Crush Soda Saga" more than made up for the declining popularity of its older titles.

Advertisement

Zynga forecast an adjusted loss of 3-2 cents per share and revenue of $155 million-$165 million for the first quarter ending March 31.

Analysts on average were expecting the company to break even on a per-share basis and report revenue of $200.9 million, according to Thomson Reuters I/B/E/S.

Advertisement

Zynga's net loss widened to $45.1 million, or 5 cents per share, in the quarter ended Dec. 31 from $25.2 million, or 3 cents per share, a year earlier.

Revenue rose about 9 percent to $192.5 million, but came below average analyst estimate of $201.1 million.

Excluding items, Zynga broke even on a per-share basis, as analysts had expected.

The San Francisco-based company's shares were trading at $2.39 after the bell.

© Thomson Reuters 2015

 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Apps, Gaming, Social, Zynga
Advertisement

Related Stories

Popular Mobile Brands
  1. iQOO Z11xa 5G With the Dimensity 7400 Turbo SoC Debuts in India: See Price
  2. Tecno Camon Slim 5G With 6.59mm Thickness Announced: See Specifications
  3. Flipkart Teases Upcoming Realme 16 Pro Harry Potter Edition
  4. Motorola Edge 70 Neo India Launch Confirmed at IFA 2026
  5. Oppo Teases Find X10 and Find X10 Pro Max 200-Megapixel Cameras
  1. Vodafone TV Launched in UK With Live Channels, Streaming, Gaming and More
  2. Samsung Galaxy S27 Ultra, Galaxy S27 Pro Reportedly Bag 3C Certification, Charging Specifications Tipped
  3. Tecno Camon Slim 5G Announced With 6.59mm Thickness, 6,000mAh Battery: Specifications, Features
  4. The Blood of Dawnwalker Sells 1 Million Copies in Just 2 Days of Launch
  5. Oppo Find X10 Series Camera Details Revealed, Find X10 Pro Max to Get Three 200-Megapixel Sensors
  6. Motorola Wide Foldable Design Leaks With Horizontal Camera Module, Creaseless Display
  7. OnePlus N6 Lite to Launch in India This Month as the Firm’s Most Affordable Handset, Tipster Claims
  8. Tim Cook Will Not Appear in Apple's 'Surprise and Shine' Event Video: Mark Gurman
  9. iQOO Z11xa 5G Launched in India With Dimensity 7400 Turbo Chipset, 7200mAh Battery: Price, Features
  10. Flipkart Teases Realme and Harry Potter Collaboration as Themed Realme 16 Pro With New Design Leaks
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.