Key Developments: Zynga Inc (ZNGA.O)
3.40USD
20 May 2013
$0.02 (+0.59%)
$3.38
$3.39
$3.50
$3.38
11,684,580
30,109,449
$7.39
$2.09
Latest Key Developments (Source: Significant Developments)
Zynga Inc Issues Q2 2013 Guidance; Earnings Guidance Below Analysts' Estimates
Zynga Inc announced that for the second quarter of 2013, it expects revenue to be in the range of $225 million to $235 million, Net loss to be in the range of $36.5 million to $26.5 million, EPS to be in the range of ($0.05) to ($0.03), adjusted EBITDA to be in the range of ($10) million to break even. and Non-GAAP EPS to be in the range of ($0.04) to ($0.03). According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $232 million, net income of $(9.2), EBITDA of $12 million and non-GAAP EPS of $(0.01) for the second quarter of 2013. Full Article
Electronic Arts Inc And Zynga Inc Settle Competing Lawsuits-Reuters
Reuters reported that Electronic Arts Inc and Zynga Inc have agreed to settle competing lawsuits over alleged copyright violations and the recruiting of employees. Terms of the settlement were not disclosed, but both companies agreed to permanently drop claims they had raised in litigation begun last August in San Francisco federal court. Full Article
Zynga Inc Issues Q1 2013 Revenue, EPS Guidance Above Analysts' Estimates; Issues FY 2013 Net Income, EBITDA Guidance Below Analysts' Estimates
Zynga Inc announced that for the first quarter of 2013, it expects revenue to be in the range of $255-$265 million, net loss is to be in the range of $(32)-$(12) million, earnings per share (EPS) to be in the range of $(0.04)-$(0.02), adjusted EBITDA to be in the range of $(10) million to break even and non-GAAP EPS to be in the range of $(0.05) to $(0.04). According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $240 million, net income of $(7), EBITDA of $12.37 million and non-GAAP EPS of $(0.06) for the first quarter of 2013. Full Article
Zynga Inc Overhauls Upper Management As CFO Departs-Reuters
Reuters reported that Zynga Inc announced on November 13, 2012 sweeping changes across its upper ranks, including the departure of Chief Financial Officer, David Wehner, as the troubled game publisher sought to revive its business and quell months of management turmoil. As part of the shakeup, Mark Vranesh, Zynga Inc's top accounting executive, will replace Wehner as CFO, while Steven Chiang was named to oversee all game development, the Company said. Full Article
Zynga Inc Raises Low End Of Prior FY 2012 EBITDA Guidance; Issues FY 2012 EPS Guidance Below Analysts' Estimates
Zynga Inc announced that for fiscal 2012, it expects adjusted EBITDA in the range of $152 million to $162 million and non-GAAP earnings per share (EPS) in the range of $0.02-$0.03. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $0.04 for fiscal 2012. Full Article
Zynga Inc Authorizes Share Repurchase Program
Zynga Inc announced that its Board of Directors has authorized a share repurchase program. Under the program, Zynga is authorized to repurchase up to $200 million of its outstanding Class A common stock. The timing and amount of any share repurchases will be determined based on market conditions, share price and other factors. Full Article
Zynga Inc Issues Q3 2012 Guidance; Lowers FY 2012 Guidance
Zynga Inc announced that for third quarter of 2012, it expects revenue in the range of $300 million to $305 million, net loss of between $90 million and $105 million, non-GAAP net loss between $2 million and $5 million and adjusted EBITDA between $10 million and $15 million, diluted EPS between ($0.12) and ($0.14) and non-GAAP EPS between $0.00 and ($0.01). For fiscal 2012, it expects Adjusted EBITDA projected to be in the range of $147 million to $162 million. Full Article
Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in Class Action Lawsuit Against Zynga Inc
The Law Offices of Todd M. Garber announced that shareholders of Zynga Inc have until October 1, 2012 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Northern District of California. The lawsuit was filed on behalf of a class (the Class) comprising all purchasers of Zynga securities between December 16, 2011 and July 25, 2012, inclusive (the Class Period). The Complaint alleges that: (i) despite a sustained decline in users of the Company’s games and declines in average bookings per user, Zynga issued positive financial forecasts between February and April 2012 that were not justified in light of the Company’s financial performance and trends; and (ii) the positive forecasts enabled senior executives and selected investors to sell nearly $600 million of Zynga shares at inflated prices in early April 2012 – approximately two months before a lock-up period previously agreed to by Zynga executives was scheduled to expire. Full Article
Glancy Binkow & Goldberg LLP Announces Expanded Class Period In Class Action Lawsuit Against Zynga Inc
Glancy Binkow & Goldberg LLP announced that the Class Period has been expanded in the securities fraud class action lawsuit pending in the United States District Court for the Northern District of California against Zynga Inc. The lawsuit was filed on behalf of a class (the Class) comprising all purchasers of Zynga securities between December 15, 2011 and July 25, 2012, inclusive (the Class Period). The Complaint alleges that the defendants issued false and/or misleading statements or failed to disclose material adverse facts about Zynga’s business and financial prospects, including that: (i) despite a sustained decline in users of the Company’s games and declines in average bookings per user, Zynga issued positive financial forecasts between February and April 2012 that were not justified in light of the Company’s financial performance and trends; and (ii) the positive forecasts enabled senior executives and selected investors to sell nearly $600 million of Zynga shares at inflated prices in early April 2012 – approximately two months before a lock-up period previously agreed to by Zynga executives was scheduled to expire. Full Article
The Method Announces Partnership With Zynga Inc
The Method, announced a partnership with Zynga, to bring the acclaimed Yard Sale: Hidden Treasures to the 306 million monthly active players on the Zynga network. The Zynga Platform is a social gaming platform designed to give players the most social and fun gaming experience wherever they play, while helping third-party developers of all sizes launch, promote, scale and grow their games and business. Full Article
JANA Partners reveals stakes in Zynga, Groupon
BOSTON - JANA Partners, a leading activist hedge fund firm run by Barry Rosenstein, has taken a liking to two of the most beaten-up technology stocks.
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