..

Zynga Poker Continues to See Strong Performance

Written by:
Guest
Published on:
May/05/2017

(Reuters) - Zynga Inc (ZNGA.O), creator of online game FarmVille, forecast an increase in current-quarter bookings above estimates on Thursday, helped by the strong performance of its titles such as Zynga Poker and Words with Friends.

Shares of the company rose 6.3 percent to $3.02 in extended trading.

The company forecast bookings of $205 million in the second quarter, which ends June 30, beating the $195.5 million expected by analysts polled by financial data and analytics firm FactSet StreetAccount. Zynga posted bookings of $175 million for the same period a year earlier.

Bookings, an important metric indicating future revenue, include the sales of virtual goods such as currency and lives.

Zynga, once one of Silicon Valley's fastest-growing companies, suffered a dramatic reversal of fortunes in 2012 as gamers switched from the company's Facebook-based desktop games to those played on mobile devices.

"From our perspective, we're very encouraged by the results, (but) we're not declaring victory by any means," Chief Executive Frank Gibeau said in an interview on Thursday.

The company said in February, it paid $42.5 million for four Solitaire smartphone games created by Harpan LLC. Zynga released "Boggle with Friends" late in the quarter.

Zynga is also expected to benefit from Facebook Inc's (FB.O) launch of instant games on its Messenger app, where "Words with Friends" is one of the biggest titles available.

The company reported a 14.2 percent rise in bookings to $207.4 million in the first quarter ended March 31, beating analysts' average estimate of $189.9 million, according to FactSet.

Net loss narrowed to $9.5 million, or 1 cent per share, from $26.6 million, or 3 cents per share, a year earlier.

The company forecast another net loss of 1 cent per share for the current quarter.

Zynga CEO Gibeau said he expects the company to be profitable very soon and then grow from there.

Poker News

Mike Postle and Justin Kuraitis Finally Speak Out on Cheating Scandal

Mike Postle and Justin Kuraitis Finally Speak Out on Cheating Scandal

Mike Postle has finally spoken out after a year of allegations lodged against the poker pro that he had cheated during live streaming events at the Stones Gambling Hall outside of Sacramento, California.

Mike Sexton Passes Away

The poker world has lost a giant with news of the passing of player, commentator and game ambassador Mike Sexton late Sunday night.

Reactions Pour in From All Over Poker World to News of Mike Sexton Terminal Illness

Reactions Pour in From All Over Poker World to News of Mike Sexton Terminal Illness

Here are reactions from fellow poker pros that the Poker Hall of Famer Mike Sexton is in home hospice as his prostrate cancer has spread to other organs.

 

Mike Sexton in Home Hospice as Cancer Spreads

Linda Johnson, known as "The First Lady of Poker" disclosed via Twitter Tuesday evening that professional poker player and commentator Mike Sexton is in home hospice.

$50 Million Poker Series with $5 Million PKO Main Event

$50 Million Poker Series with $5 Million PKO Main Event

If you play poker you do not want to miss out on this! One of the most exciting poker formats ever has arrived at Americas Cardroom, and its worldwide debut will blow you away.  Wave after wave of PKOs are coming your way.

Syndicate