Zynga Raises Full-Year Revenue and Bookings Targets After Strong 2nd-Quarter Performance
Zynga's (NASDAQ: ZNGA) second quarter saw the company record another period of encouraging operating results and finalize moves to increase its cash assets -- paving the way for new acquisitions. The company's sales for the June quarter came in significantly ahead of management's $280 million target, and its net loss for the period arrived significantly lower than management's target for a loss of $70 million. Second-quarter bookings also beat the company's guidance for bookings of $360 million.
The weakest part of the video game developer's earnings release was its unimpressive daily active user (DAU) growth and a decline for monthly active users (MAUs) compared with the prior-year period. However, these trends appear less concerning in light of increases for the company's full-year bookings and revenue guidance and confirmation that additional acquisitions are likely on the way.
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