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UPDATE: Zynga (ZNGA) Reports In-Line Q1 EPS, Provides Q2 & FY Guidance

April 23, 2014 4:05 PM EDT
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Price: $8.18 --0%

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(Updated - April 23, 2014 4:10 PM EDT)

Zynga (NASDAQ: ZNGA) reported Q1 EPS of ($0.01), in-line with the analyst estimate of ($0.01). Revenue for the quarter came in at $168 million versus the consensus estimate of $163.4 million.

  • Average daily bookings per average DAU (ABPU) increased from $0.049 in the first quarter of 2013 to $0.063 in the first quarter of 2014, up 28% year-over-year. On a consecutive quarter basis, ABPU was up 5% from $0.060 in the fourth quarter of 2013.
  • Monthly unique payers (MUPs) in the first quarter of 2014 were 1.4 million, excluding NaturalMotion, compared to 2.5 million in the first quarter of 2013. On a consecutive quarter basis, MUPs were up 5% from 1.3 million in the fourth quarter of 2013.
  • Daily active users (DAUs) in the first quarter of 2014 were 28 million, compared to 52 million in the first quarter of 2013. On a consecutive quarter basis, DAUs were up 7% from 27 million in the fourth quarter of 2013. Web DAUs and Mobile DAUs were 12 million and 16 million in the first quarter of 2014, respectively.
  • Monthly active users (MAUs) in the first quarter of 2014 were 123 million, compared to 253 million in the first quarter of 2013. On a consecutive quarter basis, MAUs were up 10% from 112 million in the fourth quarter of 2013. Web MAUs and Mobile MAUs were 61 million and 62 million in the first quarter of 2014, respectively.
  • Monthly unique users (MUUs) in the first quarter of 2014 were 86 million, excluding NaturalMotion, compared to 150 million in the first quarter of 2013. On a consecutive quarter basis, MUUs were up 8% from 80 million in the fourth quarter of 2013.

Q2 2014 and Full Year Outlook

Zynga's outlook for the second quarter of 2014 is as follows:

Revenue is projected to be in the range of $140 million to $160 million (Street at $185.87M)
Net loss is projected to be in the range of $75 million to $65 million
Diluted net loss per share is projected to be in the range of $0.08 to $0.07, based on a share count of approximately 878 million shares
Bookings are projected to be in the range of $175 million to $195 million
Adjusted EBITDA is projected to be in the range of $10 million to $20 million
Non-GAAP earnings per share is projected to be in the range of $0.00 to $0.01, based on share count in the range of approximately 878 million to approximately 930 million shares (Street at -$0.01)

Zynga's outlook for 2014 is as follows:

Bookings are projected to be in the range of $770 million to $810 million (Street at $783.61)
Adjusted EBITDA is projected to be in the range of $70 million to $100 million
Non-GAAP EPS is projected to be in the range of $0.01 to $0.03, based on a share count of approximately 930 million shares (Street at $0.01)

For earnings history and earnings-related data on Zynga (ZNGA) click here.



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