Zynga warns of Q3 loss, lowers 2012 outlook
SAN FRANCISCO |
SAN FRANCISCO Oct 4 (Reuters) - Zynga Inc warned on Thursday it will post a hefty loss in the third quarter and reduced its outlook for 2012, blaming launch delays and lowered expectations for recent games such as "The Ville".
The social games maker behind Facebook game "Farmville" has struggled to stop user losses and drive growth on mobile devices. The company estimated a third-quarter loss of 12 to 14 cents.
Also, it is now projecting 2012 adjusted earnings before interest, tax, depreciation and amortization of $147 million to $162 million, versus $180 million to $250 million previously.
Shares in the company were halted on the results before the announcement.
- Tweet this
- Share this
- Digg this