Fri, Oct 05, 2012 | 03:48 BST
Zynga lowers Q3 forecasts, stocks take another hit
Zynga has revised its outlook for the remaining financial year ahead of its third quarter financial briefing. The social publisher now expects revenues of $300-305 million, with a net loss of $90-105 million; that’s a significant drop in income on its already weak second quarter, and a whopping jump in the loss column. CEO Mark Pincus issued a soothing statement detailing the company’s plans to turn back around, but Zynga’s stock took an immediate drubbing, falling 18% to $2.30.