Key Developments: Zynga Inc (ZNGA.OQ)
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Latest Key Developments (Source: Significant Developments)
Zynga Inc Names Don Mattrick Chief Executive Officer
Zynga Inc announced that the Company has appointed Don Mattrick as Chief Executive Officer and a member of the Board of Directors, effective July 8, 2013. Full Article
Zynga Inc Acquires Casino Gaming Vets Spooky Cool Labs-DJ
Dow Jones reported that Zynga Inc announced that it had acquired Spooky Cool Labs, a Chicago, Ill.-based gaming studio focused heavily on real-money gaming titles. Terms of the deal, which was first noted by TechCrunch, weren't disclosed. Full Article
Zynga Inc Cuts 520 Jobs Across U.S-Reuters
Reuters reported that Zynga Inc plans to slash roughly 520 jobs, or nearly one-fifth of its workforce, the San Francisco-based online game maker said on June 03, 2013. Full Article
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) million, 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
US STOCKS-Futures higher as positive momentum persists
NEW YORK, July 2 - U.S. stock index futures rose modestly on Tuesday, indicating positive market momentum would continue as investors remain more comfortable with the economic outlook.
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