Those hoping for a Zynga recovery will have to keep waiting for another quarter.
The gaming company reported bookings of $175 million in the June quarter, well below analyst estimates for bookings of $191 million. Total revenue for the quarter was $153 million, a decline of about a third from the same quarter a year earlier. Net losses during the quarter also moved in the wrong direction, increasing to $62.5 million compared to $15.8 million a year earlier.
If all of that wasn't enough of a red flag for Wall Street, Zynga announced that it is lowering its projections for full year bookings to between $695 million to $725 million. It had previously projected full year bookings of between $770 million and $810 million Read more...
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