Zynga lowers Q3 forecasts, stocks take another hit

By Brenna Hillier
5 October 2012 03:48 GMT

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.

Thanks, Gamasutra

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.

VG247 logo

Buy our t-shirts, yeah

They're far more stylish than your average video game website tat.

VG247 merch