Tue, Jan 29, 2013 | 08:51 GMT
Zynga shares jump ahead of quarterly earnings release
Zynga’s stock jumped in value by 14% on Monday to close at $2.84, an unenviable but improved high.
Zynga announced it will host a conference call about its quarterly financial results on Tuesday, according to Reuters. This seems to be what triggered the spike, although Zynga’s most likely-looking chicken, real money gambling, is yet to come home to roost.
The publisher made a number of cost-cutting measures this quarter, shuttering games and studios and issuing lay-offs, which may offer improved earnings, especially on the back of phenomenal user figures.
Last quarter, Zynga posted a third successive quarterly loss, but showed significant improvement, enticing investors back.
It’s a long way to climb back up the the vertigo-inducing $10 heights the social publisher commanded when it went public in late 2011, but any upwards movement has been rare over the last 12 months so no doubt the champagne is flowing in moderate quantities today.