Zynga beat Wall Street's targets for the second quarter

  • Zynga has reported a 41% year-on-year increase in revenue for the second quarter of 2019, driven by record-breaking performance on cellular channels. Total revenues for the three months to June 30, 2019 totaled $ 306.5 million (£ 252.6m / € 276.1m), or $ 26 million above the top end of Zynga's quarterly guidelines. Orders for the quarter rose 61% from a year earlier, to $ 376m. The majority of revenue comes from games, which accounted for $ 240.7 million - or 79% - of the total, with advertising responsible for the remaining $ 65.8 million.

    The company reported a net loss of $ 58.8 million or $ 0.06 per share for the June quarter, compared with a loss of $ 0.9 million in the same period last year. Analysts are looking for profit. Management has raised the full-year guidelines and currently expects revenues of $ 1.24 billion for fiscal 2019, up 3% year-on-year. The revised forecast for full-year bookings is $ 1.5 billion, up 55% year-on-year and an increase of $ 50 million compared to the previous guide. In addition, if you are in need of Cheap Zynga Poker Chips, you can visit our website 777chips.com.

    On May 30, Zynga released Game of Thrones Slots Casino, based on the HBO fantasy series. "Through the first two months, this title is a good start with the involvement of players and strong monetization metrics," Zynga said in a letter to investors. "We hope this title will continue to improve over the coming quarters as we continue to invest in its growth." The company has three games in the "soft launch" test. They are FarmVille 3, Merge Magic and Puzzle Combat.

    The company's advertising business, interestingly, rose 70 percent from the same quarter last year to $ 38 million, up 7 percent from quarter to quarter. Zynga shares have dropped more than 12 percent since the company's last earnings report, ending the day down 2 percent. That fell as much as 9 percent in extended trade after the report came out.