Geometry Dash APK Hill Climb Racing APK
34.9 F
New York
Saturday, December 10, 2022

Is Zynga Inc (NASDAQ:ZNGA) The Best Gaming Stock RightNow?

Must read

Asia Broadband Inc (OTCMKTS:AABB) Is Up 1100% This year: What’s The Buzz?

There are some stocks that have managed to clock massive over the course of the past month or so and one of...

Blockchain Technologies Ltd (OTCMKTS:HVBTF) Makes A Stunning Move on Blockchain Optimism

The cryptocurrency boom has sustained for many months now and it anything; it is expected to continue in the future.

Bombardier, Inc. (OTCMKTS:BDRBF) Continues to Gain Momentum and Strength

Many stocks have managed to record significant gains in recent months and one that often flies under the radar is Bombardier,...

Grayscale Bitcoin Trust (Btc) (GBTC) Makes Big Move As Bitcoin Goes Wild

Bitcoin, the world’s biggest cryptocurrency by market cap, has been in the middle of a remarkable rally for the past few months...

Mobile game developer Zynga Inc (NASDAQ:ZNGA) has been one of the leaders in its industry for quite some time, and earlier this month, the company declared its financial results for the fiscal first quarter. The performance was mixed.

Earnings Recap

On the revenues front, the company managed to top management’s as well as analysts’ estimates and posted $404 million. However, the net losses for Zynga stood at $0.11 per share for the period, which is significantly more than the projections of $0.03 from the company. Analysts had expected net loss per share of $0.01 per share. The stock declined on Thursday, but perhaps it is also necessary for investors to bear in mind that things might not be as bad as many think.

Zynga has delivered solid growth in recent times. In the first quarter, the company’s sales grew by as much as 52% year on year, and total bookings rose by 18% to hit $425 million. The quantum of revenue growth in the United States was 41%, while the same in the international markets stood at 72%. However, Zynga had to pay bonuses for the better than expected performance of games created by Garth Games and Small Giant Games, two studios it had acquired two years ago.

These bonus payments had been the primary reason behind the higher than expected losses. The operating cash flow stood at $35 million, and as of March 31, the company had cash as well as investments worth $1.43 billion. In addition to the wider than expected losses, the daily active users slumped 21% year on year to 21 million. In addition to that, Zynga also experienced a 5% decline in monthly active users, which dropped to 68 million. While it is true that the company has monetized its games well, the decline in MAU and DAU must be a cause for worry.

Earlier on in the year, Zynga had projected it was going to generate annual revenues of $1.6 billion and bookings to the tune of $1.75 billion. Sign up below to follow critical updates on Zynga and other breakout stocks.

Latest article

Alibaba Group Holding Limited (OTCMKTS:BABAF) Big Volume with Possible 60% Upside

Alibaba Group Holding Limited (OTCMKTS:  BABAF) is an over the counter stock traded on the OTC Pink markets in the Consumer Discretionary...

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service