Arab Today, arab today zynga shares dive on trimmed earnings forecast
Last Updated : GMT 23:28:03
Arab Today, arab today
Arab Today, arab today

Zynga shares dive on trimmed earnings forecast

Arab Today, arab today

Arab Today, arab today Zynga shares dive on trimmed earnings forecast

New York - AFP

Zynga shares plunged anew on Thursday after the company behind social games such as \"FarmVille\" cut its earnings forecast for the year. Zynga cited curbed play of its games along with delays in releasing new titles as among the cause for reducing its revenue expectations. The San Francisco-based company said it will also be hit with a writedown of as much as $95 million from its purchase early this year of OMGPOP, the startup behind the \"Draw Something\" game that was a smartphone hit. Zynga reportedly paid about $200 million for New York City-based OMGPOP. The firm\'s shares dove more than 18 percent to $2.28 in after-market trading on the Nasdaq. \"The third quarter of 2012 continued to be challenging and, while many of our games performed to plan, as a whole we did not execute to our satisfaction,\" said Zynga chief executive Mark Pincus. \"We remain optimistic about the opportunity for social gaming and the power of our player network of 311 million monthly active users.\" Pincus said Zynga would implement targeted cost cuts in the final quarter of the year to tune its research and development to reflect \"strategic priorities\" that included targeting players on smartphones and tablet computers. Zynga saw its stock price plummet more than a third in July after the company badly missed second-quarter earnings expectations. Shares at that time slid 38 percent to $3.16 in reaction to the news of a $22 million loss for the company, which went public last year at $10 a share. Zynga jumped into the stock market with a billion-dollar listing in December. Offering 100 million shares -- a seventh of the company\'s total -- the maker of FarmVille and Zynga Poker was valued at a whopping $7 billion, but has since been cut by more than half.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today zynga shares dive on trimmed earnings forecast Arab Today, arab today zynga shares dive on trimmed earnings forecast

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday