Zynga Loss Narrower Than Estimates; Q3 Guidance Weak

(RTTNews) - Social game developer Zynga Inc (ZNGA) on Thursday reported second-quarter net loss of $26.9 million or $0.03 per share, compared with a loss of $62.5 million or $0.07 per share last year.

Excluding items, adjusted loss for the quarter was $0.01 per share, compared with $0.00 per share a year ago.

Analysts polled by Thomson Reuters estimated a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were up 30% at $199.9 million, compared with $153.2 million in the prior year.

Excluding the change in deferred revenues, an adjusted measure, bookings for the quarter totaled $174.5 million, compared with $175.1 million last year.

Analysts estimated revenues of $156.8 million for the quarter.

For the third quarter, the company expects adjusted loss of $0.02 to $0.01 per share; revenues of $175 million to $190 million; and excluding deferred revenue, bookings of $155 million to $170 million.

Analysts expect earnings of $0.00 per share on revenues of $174.8 million.