Zynga's Outlook Remains Promising Despite Mixed First Quarter
Zynga (NASDAQ: ZNGA) published its first-quarter earnings earlier this month, delivering a mixed bag of results. Revenue for the quarter came in at $404 million, topping both management's guidance and the analyst consensus. But the company's GAAP net loss for the period worked out to $0.11 per share, exceeding the $0.03 per share from guidance and $0.01 per share Wall Street expectation.
Zynga stock has declined roughly 3% since the earnings release. The company headed into its first-quarter earnings release with shares trading at their highest level since 2012, so it's not shocking that the stock has pulled back slightly. And as you'll see below, its earnings performance was much better than it looked on the surface.
Image source: Getty Images.
Source Fool.com
