Featured Articles

Apple iPad Air 2 costs $275 to build

Apple iPad Air 2 costs $275 to build

IHS has told Recode that the Apple iPad Air 2 16GB Wifi costs only $275 to build -- not bad…

More...
LG sells 16.8 million smartphones in Q3 14

LG sells 16.8 million smartphones in Q3 14

As Samsung is losing market share, another Korean company, which many had written off, is gaining.

More...
LG G Watch R EU price set at €299

LG G Watch R EU price set at €299

LG G Watch R is probably the best looking Android Wear device on the market and many have been waiting for…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 06 February 2013 10:37

Zynga shocks by making money

Written by Nick Farrell



Wall Street stunned

Troubled social notworking game maker Zynga has shocked the cocaine nose jobs of Wall Street by actually making money. The company has been dealing with an exodus of customers which would have made Moses proud but something seems to be working.

Yesterday Zynga reported an unexpected fourth-quarter profit by making steep cost cuts and shifting forward deferred revenue. Investors breathed a sigh of relief and the shares in the outfit rose by seven percent to $2.93 in after-hours trade. The company reported fourth-quarter revenue of $311 million, which is unchanged from a year earlier and down from the prior quarter. There also little to report that is positive. The company is still projecting revenue could shrink for a third sequential quarter.

Zynga forecast revenue for the first quarter of 2013 of between $255 million and $265 million, a roughly 20 per cent drop from the same quarter in 2012. But the company also said its weak sales forecast was due to a "light slate" of new games planned for quarter. The company went public in late 2011 at $10 a share. By the end of last year it had fallen to $2.10.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments