Zynga reports 3rd-quarter loss, signs partnership with UK gambling site; shares jump
NEW YORK, N.Y. – Zynga booked a loss in the third quarter due largely to a charge marking down the value of a mobile game company it acquired in March.
The San Francisco company’s revenue topped analyst expectations, and it also signed a deal to offer online poker and casino games, played with real money, in the U.K. Shares surged 13 per cent in after-hours trading.
The online game maker said Wednesday that it lost $52.7 million, or 7 cents per share, in the July-September period.
That’s down from earnings of $12.5 million — break-even on a per-share basis — from a year earlier, when it was still privately held.
On an adjusted per-share basis Zynga broke even, matching analysts’ expectations.
Revenue grew 3 per cent to $316.6 million. According to FactSet, analysts expected $291 million.
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