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Zynga shares up 13% after better-than-expected Q3

Although it posted a third successive quarter of loss, Zynga beat analyst expectations to win back a little love from investors.

Zynga posted a 3% year-on-year increase on quarterly revenues at $137 million, and a 17% year-on-year increase on nine months year to date at $970 million.

Unfortunately, it didn't turn a profit, copping to a $52,725 loss over the course of the third quarter, down from a $12,540 profit in the same quarter of 2011, bringing its total losses for the year to date to $160,887.

Nevertheless, Wall Street reacted favourably; after the social publisher lowered its expectations, its stock became virtually worthless, but the decision to own up ahead of time paid off as the company pushed past its forecasts.

Zynga also made significant staff cuts this week, which may have convinced investors it's ready to turn around.

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Brenna Hillier avatar

Brenna Hillier

Contributor

Based in Australia and having come from a lengthy career in the Aussie games media, Brenna worked as VG247's remote Deputy Editor for several years, covering news and events from the other side of the planet to the rest of the team. After leaving VG247, Brenna retired from games media and crossed over to development, working as a writer on several video games.

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