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Zynga +1.3% as revenues, bookings show strength

  • Zynga (NASDAQ:ZNGA) is up 1.3% in early postmarket trading after its Q2 results, where it topped revenue expectations and raised guidance for the full year.
  • Revenues rose 41% (to $306M), largely driven by live services, and bookings jumped 61% to $376M.
  • Mobile revenue and bookings were the company's best ever, to $287M (up 49%) and $358M (up 69%) respectively.
  • Acquisitions are performing well, the company says, resulting in an increase to contingent consideration of $24M vs. guidance for $15M.
  • Net loss came in at $56M vs. company guidance for a $70M loss; EBITDA was $3M vs. company expectations for -$18M.
  • Operating cash flow was $99M (best since Q4 2011), up 140%.
  • It now expects Q3 revenues of $325M (up 39% Y/Y) and bookings of $380M (up 53%).
  • And it's raising full-year revenue guidance to $1.24B from $1.2B (up 37% Y/Y) and boosting bookings guidance to $1.5B from $1.45B (up 55%).
  • Conference call to come at 5 p.m. ET.
  • Earnings letter

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