Zynga plans to report its second-quarter earnings results

  • Zynga (ZNGA) plans to report its second-quarter earnings results. What’s on its upcoming second-quarter scorecard? First, Zynga’s internal guidance shows that the company expects to report second-quarter revenue of $280 million. It also expects to post a loss of $70 million. Zynga’s results for the second quarter have surpassed internal targets for at least the last two years in a row.

    Zynga delivered revenue of $217 million in the second quarter of 2018. To put it another way, it beat is internal revenue guidance for the quarter by $9.0 million. The company posted a loss of $0.9 million in the quarter. Similarly, it beat its internal loss guidance by $14.1 million. In the second quarter of 2017, Zynga delivered revenue of $209.2 million, which was $9.2 million above its internal guidance. Likewise, the company posted a profit of $5.1 million for the second quarter of 2017 although it had guided for a loss. Wall Street expects Zynga to report revenue of $293.2 million in the second quarter of 2019. By the way, you can buy Cheap Facebook Zynga Poker Chips from 5mmo.com, where you can enjoy a 3% discount by using the code “5MMO”.

    “We put together a pretty strong Q2,” Zynga chief executive Frank Gibeau told GamesBeat. “We delivered ahead of guidance and saw a very strong uptick in our bookings — 61% year-over-year. It was the best mobile-bookings quarter we’ve ever had. We’re starting to see really nice cash flow. We generated $99 million in the quarter, which is the best Zynga has seen since 2011. It’s up 140% year-over-year. We were able to raise our annual guidance based on the momentum we’ve had in live services.”

    As for its earnings, Zynga recorded a net loss of $56 million. That was ahead of its guidance of a $70 million loss. And with the company is pointing to its strong cash flow and significant revenue growth as evidence for its future profitability. For Q3, it is expecting to see a net income of $250 million, but that includes $305 million from the recent sale of its San Francisco headquarters.