..

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

Poker Power Couple Announces Marriage

Poker Power Couple Announces Marriage

Not since Chucky's Bride and the Unabomber (Jennifer Tilly and Phil Laak) has their been a poker super couple the likes of Loni Harwood and Phillip Hui.  And now comes word the two have tied the knot.

Can I Play on WSOP for Real Money From My State?

Can I Play on WSOP for Real Money From My State?

WSOP.com is now advertising heavily on national television.  Their website is free to use and, as such, is available everywhere in the US.  There are very few states, however, that allow for real money play.  There are real money options in states where WSOP is limited. 

Michael Jai White Expected Naked Poker at a Dr Dre Party: Got the Opposite

Michael Jai White Expected Naked Poker at a Dr Dre Party: Got the Opposite

American actor and martial artist Michael Jai White spoke candidly about his relationship with record mogul Dr. Dre.

Mouth Compares GA Elections to Mike Postle Cheating Scandal

Mouth Compares GA Elections to Mike Postle Cheating Scandal

Poker pro Mike Postle didn't cheat, according to experts, and neither did those overseeing the Georgia Presidential elections.  But don't tell that to Mike "The Mouth" Matusow, one of the game's most outspoken players.

Cashing Out of Online Poker Rooms - Bitcoin The Fastest Preference

Winning Poker Network, parent company of Gambling911.com partner Americas Cardroom, said it has been forced to buy millions in bitcoin a day to meet the demands of exiting players.

Syndicate