Zynga (ZNGA) - NASDAQ
  • Jun. 4, 2013, 11:47 AM

    Zynga's (ZNGA +0.3%) OMGPOP studio, responsible for the Draw Something mobile franchise and acquired for $180M+ last year, is among the casualties of the company's layoffs. Though Zynga did take a giant write-down on the OMGPOP deal last year, the company's unwillingness to spare the unit is still eye-opening, given the recent success of Draw Something 2 and Mark Pincus' remarks about wanting Zynga to have a stronger mobile/multi-platform focus. UBS has lowered its PT to $3.30 in response to Zynga's layoffs and Q2 warning. "It now appears a combination of new game launches and older titles have seen a dip in performance."

    | Jun. 4, 2013, 11:47 AM | 1 Comment
  • Jun. 3, 2013, 3:36 PM
    Zynga (ZNGA -11.6%) resumes trading following the layoff of 18% of its workforce.
    | Jun. 3, 2013, 3:36 PM | 7 Comments
  • Jun. 3, 2013, 3:22 PM

    More on Zynga: The company confirms the layoffs. Zynga is also warning its Q2 bookings will be in the low half of its guidance range of $180M-$190M - while the FarmVille franchise is still faring well, other games are underperforming. The company's Q2 revenue and EPS forecasts, and its 2013 adjusted EBITDA forecast, are reaffirmed. Zynga expects its layoffs to result in $24M-$26M in Q2 pre-tax charges, and $2M-$5M in Q3 pre-tax charges. Mark Pincus: "The scale that served us so well in building and delivering the leading social gaming service on the Web is now making it hard to successfully lead across mobile and multiplatform." Shares are halted.

    | Jun. 3, 2013, 3:22 PM
  • Jun. 3, 2013, 3:03 PM
    Zynga (ZNGA +0.6%) is laying off 520 employees, or 18% of its workforce, Kara Swisher reports. The layoffs, said to be aimed at more strongly focusing Zynga towards mobile, will reportedly lead to the shuttering of the company's NYC, L.A., and Dallas offices, and also "the slashing of other infrastructure costs." $80M in staff savings are expected. Zynga has already been aggressively paring its headcount and investments in the face of slumping usage and revenue for its Facebook PC games; the company's R&D spend fell 31% Y/Y in Q1, and its sales/marketing spend 52%.
    | Jun. 3, 2013, 3:03 PM | 13 Comments
  • May 21, 2013, 11:39 AM
    Piper raises its PT for Zynga (ZNGA +2.4%) to $3.50 from $2.75: the firm says checks indicate core business stability and mobile game traction. Running with Friends remains #5 on the App Store's U.S. free app leaderboard; Draw Something 2 has fallen to #64.
    | May 21, 2013, 11:39 AM | 2 Comments
  • May 15, 2013, 9:56 AM
    Barry Rosenstein's Jana Partners discloses it bought 25.5M Zynga (ZNGA +8.2%) shares in Q1. That's good for a 4.2% stake in the social gaming leader, which is shooting higher on the news. (13F)
    | May 15, 2013, 9:56 AM | 2 Comments
  • May 13, 2013, 4:10 PM
    Zynga (ZNGA +7.4%) closes sharply higher in the absence of major news. Enthusiasm about the performance of new mobile titles Draw Something 2 and Running with Friends could be a factor - AppData's stats (I, II) indicate both games continue to fare well in App Store charts. Zynga's short interest has tripled since November, but is still well below where it stood a year ago.
    | May 13, 2013, 4:10 PM | 1 Comment
  • May 10, 2013, 6:42 PM

    Mobile game Running with Friends is the first Zynga (ZNGA) title in the endless running genre. Just launched globally following a Canadian soft launch, the game amounts to a collaboration with popular console game developer Eat Sleep Play - this could be a sign of Zynga's efforts to keep R&D spending down as much as anything. Regardless, Zynga is hoping the game can add to the mobile momentum produced by Draw Something 2, as the company bets on "high-engagement" mobile titles to help spark a rebound.

    | May 10, 2013, 6:42 PM | 4 Comments
  • May 3, 2013, 1:49 PM
    Draw Something 2 is looking like a hit for Zynga (ZNGA -0.6%): the sequel to one-time hit/write-down Draw Something, which adds more advanced drawing tools and a "social feed," has quickly shot to the top of the App Store's free iPhone app leaderboard since its late-April launch (it's monetized via in-app purchases). Zynga can use the good news after getting hammered last month due to poor Q2 guidance, as engagement for its Facebook games dives in spite of FarmVille 2's success. Also: Zynga is pitching itself to video advertisers during upfront season, as it tries to bolster an ad business that made up 13% of Q1 revenue.
    | May 3, 2013, 1:49 PM | 1 Comment
  • May 1, 2013, 6:19 PM

    Facebook's (FB) ad impressions and prices respectively rose 39% and 3% Y/Y in Q1, Sheryl Sandberg states on the CC; given the success of Sponsored Stories and the FBX Exchange, the price growth seems light (mobile a likely reason). Still, Y/Y ad rev. growth was higher in Q1 than in any 2012 quarter, thanks partly to demand for app install ads (used by 3.8K developers to drive ~25M downloads). Payments revenue rose Q/Q after adjusting for an extra month in Q4, and Facebook claims record gaming activity (good for ZNGA). PC ad revenue was flat Y/Y. Mark Zuckerberg hints Instagram will soon be monetized. (live blogs: I, II) (previous)

    | May 1, 2013, 6:19 PM | 3 Comments
  • Apr. 30, 2013, 12:58 PM
    Zynga (ZNGA -1.1%) strikes a deal to publish Game of Thrones Ascent, a a social game based on HBO's hit series that has been developed by startup Disruptor Beam. Zynga has slowly but steadily been adding games and developers to its publishing network, and is hoping the efforts, together with its Zynga.com site and Zynga with Friends social network, will lessen its dependence on home-grown Facebook games, which (with an exception or two) haven't been faring well lately.
    | Apr. 30, 2013, 12:58 PM
  • Apr. 25, 2013, 9:12 AM
    Premarket gainers: MPG +23%. INFN +19%. AKAM +17%. FIO +16%. CLF +8%. YNDX +7%. NXST +7%. NOW +7%. CAB +6%. CAKE +6%.
    Losers: XIDE -15%. WHX -14%. INTU -13%. ZNGA -9%. MLNX -8%. AVEO -7%. CTXS -7%.
    | Apr. 25, 2013, 9:12 AM | 1 Comment
  • Apr. 24, 2013, 6:20 PM

    Though Zynga (ZNGA) beat Q1 estimates thanks to strong FarmVille 2 bookings, its quarterly metrics help explain its poor Q2 guidance. Daily active users (DAUs) fell 8% Q/Q and 21% Y/Y in Q1 to 52M, after having fallen 6% Q/Q in Q4. Monthly active users fell 15% Q/Q and 13% Y/Y to 253M, monthly unique payers fell 14% Q/Q and 30% Y/Y to 2.5M, and average daily bookings per DAU fell 2% Q/Q and 11% Y/Y to $0.055. Cost controls are keeping Zynga from witnessing huge cash burn: R&D spend -31% Y/Y, sales/marketing -52%, G&A -41%. Only $2.5M worth of buybacks took place. Can real-money gambling help turn the tide? Shares -9.2% AH. (Q4 data) (PR)

    | Apr. 24, 2013, 6:20 PM | 1 Comment
  • Apr. 24, 2013, 5:52 PM
    After-hours top gainers, as of 5:15 p.m.: AKAM +16%. FIO +12%. AVG +10%. ANGI +8%. BYI +6%.
    After-hours top losers: SUPN -14%. CTXS -12%. EQIX -11%. INTU -10%. ZNGA -8%.
    | Apr. 24, 2013, 5:52 PM
  • Apr. 24, 2013, 4:11 PM
    Zynga (ZNGA): Q1 EPS of $0.01 beats by $0.05. Bookings of $229.8M (-30% Y/Y) beats by $20M. Expects Q2 bookings of $180M-$190M and EPS of -$0.04 to -$0.03, below a consensus of $236.1M and -$0.01. Shares -13.4% AH. (PR)
    | Apr. 24, 2013, 4:11 PM | 5 Comments
  • Apr. 15, 2013, 10:43 AM

    Electronic Arts (EA -1.1%) is doing a social gaming about-face: the company is shuttering Facebook titles The Sims Social, SimCity Social, and Pet Society due to declining usage. "For people who have seen other recent shutdowns of social games, perhaps this is not surprising," says EA in a jab at former lawsuit target Zynga (ZNGA -1.2%), which nonetheless can't be upset about this news. The closings come shortly after EA CEO John Riccitiello resigned, and a fresh round of layoffs were carried out. SimCity Social once had 10M monthly users.

    | Apr. 15, 2013, 10:43 AM
Company Description
Zynga, Inc. operates as an online social game services company. It engages in the developing, marketing and operating of online social games as live services played over the Internet and on social networking sites and mobile platforms. The company provides its online social games under the Zynga... More
Sector: Technology
Industry: Internet Information Providers
Country: United States