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Why Zynga Stock Plunged Today

TheMotleyFool

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Shares of Zynga (NASDAQ: ZNGA) plummeted on Friday after the video game developer warned investors that its growth was slowing. As of 3:40 p.m. EDT, Zynga's stock price was down 18%.

The owner of games such as Words With Friends and Tangle Master 3D saw its revenue rise 59% year over year to $720 million in the second quarter. The gains were fueled in part by a 110% surge in advertising revenue, to $133 million.

Zynga's acquisition of hyper-casual game publisher Rollic in October has helped it ramp up its in-game ad business. The company said Rollic recently surpassed 1 billion game downloads. "We are blown away by Rollic's performance so far this year," Zynga president of publishing Bernard Kim said in a press release.

Source Fool.com

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