Zynga Inc (ZNGA)

[Trevor11]

ZNGA: BEST PERFORMANCE IN OVER 4 YEARS





“WE DELIVERED SIGNIFICANT GROWTH IN PROFITABILITY IN THE QUARTER ACHIEVING NET INCOME OF $18.1 MILLION.

THIS REPRESENTS THE FIRST TIME SINCE WE WENT PUBLIC THAT ZYNGA HAS DELIVERED TWO CONSECUTIVE QUARTERS OF NET INCOME.





ZYNGA ANNOUNCES THIRD QUARTER 2017 FINANCIAL RESULTS


NOVEMBER 07, 2017 16:05 ET

SOURCE: ZYNGA INC.
PHOTO-RELEASE
ZYNGA Q3 2017 EARNINGS HIGHLIGHT

ZYNGA Q3 2017 EARNINGS HIGHLIGHT
ZYNGA INC.


SAN FRANCISCO, Nov. 07, 2017 (GLOBE NEWSWIRE) -- Zynga Inc. (Nasdaq:ZNGA) has released its third quarter 2017 financial results by posting management’s Q3 2017 Quarterly Earnings Letter on its website. Please visit investor.zynga.com/results.cfm to view the letter.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/40fe71bc-1911-45e5-998f-fc1df7513475

Zynga management will also host a Q&A session at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss Zynga’s third quarter 2017 performance. Questions may be asked on the call, and Zynga will respond to as many questions as possible.
The live Q&A session can be accessed at http://investor.zynga.com – a replay of which will be available through the website after the call – or via the below conference dial-in number:
• Toll-Free Dial-In Number: [phone]
• International Dial-In Number: [phone]
• Conference ID: 99825510

STATEMENT FROM ZYNGA’S CHIEF EXECUTIVE OFFICER FRANK GIBEAU

“WE HAD A STRONG Q3, DELIVERING OUR BEST REVENUE AND BOOKINGS PERFORMANCE IN OVER FOUR YEARS. THIS PAST QUARTER, REVENUE WAS $224.6 MILLION, ABOVE OUR GUIDANCE BY $14.6 MILLION and UP 23% YEAR-OVER-YEAR. Bookings WERE $213.5 MILLION, ABOVE OUR GUIDANCE BY $8.5 MILLION, AND UP 9% YEAR-OVER-YEAR.

Our mobile user pay hit an all-time high for both revenue and bookings, up 44% and 20% year-over-year, respectively. Mobile now represents 87% of our total revenue and bookings,” said Frank Gibeau, CEO of Zynga. “WE DELIVERED SIGNIFICANT GROWTH IN PROFITABILITY IN THE QUARTER ACHIEVING NET INCOME OF $18.1 MILLION. THIS REPRESENTS THE FIRST TIME SINCE WE WENT PUBLIC THAT ZYNGA HAS DELIVERED TWO CONSECUTIVE QUARTERS OF NET INCOME. OUR YEAR-TO-DATE CASH FLOW FROM OPERATIONS HAS MORE THAN DOUBLED TO $68.2 MILLION, UP FROM $32.3 MILLION A YEAR AGO. We remain on track to deliver our improved margin goals by the end of 2018 and, over the long-term, we’re focused on achieving margins in-line with our peers.”

Source:

https://www.globenewswire.com/news-release/2017/11/07/1176797/0/en/Zynga-Announces-Third-Quarter-2017-Financial-Results.html