Zynga beats on Q3 bookings, shares pop 9%

Zynga posted bookings of $175 million on a loss of one cent per share

Financial trends and news by Steven Loeb
November 6, 2014
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Shares of Zynga are up nearly 9% in after-hours trading Thursday, after the company posted third-quarter results that fell in-line with expectations on EPS and easily beat bookings. 

The company had seen its stock go up 0.43%, or $0.01, to $2.36 a share in regular trading.

Zynga reported bookings of $175.5 million, head of analyst expectations of $171.7 million, on a loss of one cent per share, which is what Wall Street had been expecting. Bookings increased 111% year to year, and increased 10% quarter to quarter.

The company reported a net loss of $57 million for the quarter, compared to a net loss of $68,000 for the third quarter of 2013, but down from a net loss of $63 million for the second quarter of 2014.

Zynga saw its Monthly Unique Payers (MUPs) in the third quarter of 2014 go down to 1.3 million, compared to 1.6 million in the third quarter of 2013. MUPs were down 19% from 1.7 million quarter-to-quarter.

Daily active users (DAUs) in the third quarter of 2014 were 26 million, down from 30 million in the third quarter of 2013. DAUs were down 9% from 29 million quarter-to-quarter. Web DAUs and Mobile DAUs were 8 million and 18 million in the third quarter of 2014, respectively..

The company saw on mobile, going up % quarter to quarter across monthly active users and % across daily active users.

Online game revenue was $ million, down % compared to the third quarter of 2013 and down % quarter to quarter. 

Advertising and other revenue was $37 million, an increase of 32% compared to the third quarter of 2013 and an increase of 67% quarter to quarter. Three games, FarmVille 2,Zynga Poker and Hit it Rich! accounted for 27%, 22% and 12% of online game revenue, respectively.

Zynga is projecting booking for Q4 2014 to be in the range of $183 million to $213 million, with a projected net loss of between $51 and $34 million.

For all of 2014, the company expects bookings in the range of $695 million to $725 million, with a new loss in the range of $231 million to $214 million.

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Description: Zynga is the largest social gaming company with 8.5 million daily users and 45 million monthly users.  Zynga’s games are avail...