Feeds

Zynga plays BLAME GAME with Facebook as stock tanks 40%

Zuck to face Wall Street with first earnings report

Internet Security Threat Report 2014

Online gaming outfit Zynga has partly blamed competition being opened up on Facebook's platform for the maker of Farmville having to revise down its outlook for the year.

The company, which claims some 300 million monthly users, is also struggling to quickly release new games onto the market.

We are lowering our outlook to reflect delays in launching new games, a faster decline in existing web games due in part to a more challenging environment on the Facebook web platform, and reduced expectations for Draw Something.

Zynga's chief Mark Pincus said the company had "faced new short-term challenges which led to a sequential decline in bookings" during the quarter.

Net losses continued for a second quarter at the San Francisco-based gaming firm, with Zynga bleeding nearly $23m during the three months ended 30 June, compared with a $1.4m profit in the same period in 2011.

It reported total revenues of $332m with advertising sales looking particularly brisk.

Despite that, the company has been forced to press reset on its outlook for the year – a move that displeased Wall Street.

Shares in Zynga tanked by 40 per cent in after-hours trading, falling to $3.20.

Stock in Facebook – which will announce its first quarterly results today – followed suit, tumbling 6 per cent to $27.29 before the bell on Wall Street. ®

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.