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Why Shares of Zynga Surged Today

TheMotleyFool

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Shares of Zynga (NASDAQ: ZNGA) rose on Thursday after the game company reported fourth-quarter results that beat analyst expectations. Revenue and bookings soared, and the company expects solid double-digit growth in 2020. Zynga stock was up about 12% at 11:30 a.m. EST today.

Fourth-quarter revenue was $404 million, up 63% year over year. Bookings came in at $433 million, up 62% and roughly $63 million higher than the average analyst estimate. Online game revenue was up 84% to $325 million, while advertising revenue rose 11% to $80 million.

Image source: Getty Images.

Source Fool.com

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