Zynga (ZNGA) Reports In-Line Q2 EPS, Lowers Guidance

(Updated - August 7, 2014 4:05 PM EDT)

Zynga (NASDAQ: ZNGA) reported Q2 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenue for the quarter came in at $153.2 million versus the consensus estimate of $191.21 million.

Zynga sees Q3 EPS of ($0.01)-$0.00, versus the consensus of $0.01. Zynga sees FY2014 revenue of $160-170 million, versus the consensus of $195.3 million.

Zynga sees FY2014 EPS of ($0.01)-$0.00, versus prior guidance of $0.01-$0.03 and the consensus of $0.02.

"While our quarterly financial results were in line with our guidance range, we aspire to do better and improve execution across our business. Inside Zynga, we recognize that our products have the potential to live for multiple years and with nurturing, refinement and investment, they can grow and scale. We are purposefully competing, and while we would like to be further along, we believe we are making the right decisions to grow our business and unlock long term shareholder value," said Don Mattrick, CEO of Zynga. "We continue to make significant investments in the highest potential areas of our future pipeline. By Q4 of this year, approximately half of our game-related research and development will be allocated to new and recently launched games – this represents about a 45% increase year over year. We currently have capabilities and brands in content genres with Farm, Words, Casino, Racing and People and we are further diversifying our product portfolio in order to reach more consumers and widen our demographic across more entertainment genres."

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

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