Tuesday, February 14, 2012 4:28:27 PM
Comment now Social gaming company Zynga just reported its first earnings as a public company.
Zynga posted a fourth quarter 2011 net loss of $435.0 million or $1.22 on revenue of $311.2 million, up 59% from the year-ago period and up 1% sequentially. Non-GAAP net income was $37.2 million in the quarter, down 41% compared to the year ago period, or a non-GAAP earnings per share of 5 cents.
Zynga stock is down 5.16% to $13.59 in after hours trading. Zynga stock closed up more than 7% earlier today ahead of the earnings release.
Adjusted EBITDA in the fourth quarter 2011 was $67.8 million, which is down 34% year-over-year. Bookings were $306.5 million, which is up 26% year-over-year and 7% sequentially.
Zynga was expected to post non-GAAP earnings of 3 cents per share and revenue of $302 million, according to FactSet Research.
Zynga has seen a bump in its stock price since Facebook revealed in its S-1 IPO filing that Zynga makes up 12% of Facebook’s revenue. Zynga also just announced a licensing deal with Hasbro in which the toy company would make toys and games from Zynga brands.
Updating This Post
http://www.forbes.com/sites/tomiogeron/2012/02/14/zynga-q4-earnings-beat-street-but-stock-down/?partner=yahootix
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