Zynga Inc (ZNGA)

[Trevor11]

ZNGA: $200,000,000.00, REPURCHASE PROGRAM GOES INTO 2018, AS AN INITIAL STEP








"AS AN INITIAL STEP...announcing a two-year $200 million share repurchase program."

The program will give us the flexibility to execute share repurchases in a measured fashion, taking into consideration equity dilution, market conditions, share price and other factors.




Edited Transcript of ZNGA earnings conference call or presentation 2-Nov-16 9:00pm GMT
Thomson Reuters StreetEvents•November 2, 2016
Q3 2016 Zynga Inc Earnings Call

San Francisco Nov 3, 2016 (Thomson StreetEvents) -- Edited Transcript of Zynga Inc earnings conference call or presentation Wednesday, November 2, 2016 at 9:00:00pm GMT
TEXT version of Transcript

...This sequential growth is driven by seasonal strength in our mobile advertising, in particular Words with Friends. On the year-over-year basis, growth in mobile advertising will be more than offset by declines in our web advertising. In the near-term, we expect bookings from CSR2 to be lower than launch highs as the team strengthens the content pipeline and player engagement.
We also expect continued bookings and audience declines in our web and older games. We expect our non-GAAP operating expenses to be down from the $126.5 million we reported in Q3 driven by lower marketing spend and the continued focus on operational efficiency.
As previously stated, our long-term objective is to deliver operating margins that are more in line with our peers. As we look for opportunities to create shareholder value we continue to assess our capital allocation strategy. As an initial step we are today announcing a two-year $200 million share repurchase program.

The program will give us the flexibility to execute share repurchases in a measured fashion, taking into consideration equity dilution, market conditions, share price and other factors. In closing, we are very pleased with a very strong Q3 performance and look for it to maintaining this momentum into Q4...


Source:

https://finance.yahoo.com/news/edited-transcript-znga-earnings-conference-024239609.html