31, 2019-- Zynga Inc. (Nasdaq: ZNGA) today released its financial results for its second quarter ended June 30, 2019 by posting management’s Q2 2019 Quarterly Earnings Letter to its Investor Relations website. Read More. Bearing that out, average bookings per daily active user in the third quarter rose 67% year over year to $0.202.Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.Stock Advisor launched in February of 2002.
Insider Monkey. It also increased its guidance for 2019 -- … Monthly active users fared worse, falling 13% to 67 million.
Press Releases. STAY UP TO DATE ON ZYNGA GAMES AND COMPANY NEWS. Gibeau said that Zynga Poker is expected to return to sequential growth in the second half of 2019. Why Zynga Stock Has Skyrocketed 55.9% in 2020.
July 8, 2020. Jul 16, 2020 Zynga Appoints Noel Watson to Board of Directors. Share on Facebook ; Share on Twitter; Share via Email; Zynga made its name with Farmville a decade ago. SAN FRANCISCO--(BUSINESS WIRE)--Jul. Zynga News. An investigation was immediately commenced, leading third-party forensics firms were retained to assist, and we have contacted law enforcement.” Thu 19 Dec 2019 06.13 EST Last modified on Thu 16 Apr 2020 09.26 EDT. Jul 15, 2020 Zynga to Discuss Second Quarter 2020 Financial Results on August 5, 2020. That latter breach was not made public until May 2016.Zynga, a social game developer that made its name with Farmville a decade ago and acquired Words With Friends a year later, admitted to the hack in September, telling users that cyber-attacks were “one of the unfortunate realities of doing business today”.Zynga told users in September: “We recently discovered that certain player account information may have been illegally accessed by outside hackers. While the scale of the market offers Zynga plenty of room to expand, the competition from bigger players will not make it easy for the company.According to Zynga's investor presentation, the company's daily active users in the third quarter stood at about 20 million, down 1% year over year. It also increased its guidance for 2019 -- management forecast sales of $1.28 billion in 2019, an increase of $42 million from the previous estimate.By comparison, Zynga has spent $472 million, or 40.5% of sales, on research and development over the last 12 months. As Apple Arcade gains steam, investors should keep a close watch on how the new competition is affecting Zynga's player metrics as the company is likely to hit a ceiling in user spending long before it maxes out its potential player base.The company is expecting to lose some of that momentum heading into the new year, with management highlighting in the quarterly earnings letter that "we expect low double-digit organic revenue and bookings growth" in 2020.Based on the 2019 guidance, Zynga will enjoy compound annual growth of 28% for its top line over the past three years. “Quarter over quarter, Zynga Poker is starting to level out,” Gibeau said. This indicates Zynga's top line was driven by an increase in user spending rather than a growing player base. Jul 6, 2020. Zynga Poker is still kind of limping, but nine new games are in the works. September 29, 2019 Swati Khandelwal A Pakistani hacker who previously made headlines earlier this year for selling almost a billion user records stolen from nearly 45 popular online services has now claimed to have hacked the popular mobile social game company Zynga Inc. Research Reports. Returns as of 07/31/2020. Zynga acquired Gram Games for $250 million in May 2018 and 80% of Small Giant Games for $560 million in a deal that closed at the beginning of this year. Apple has huge cash reserves it can pump into Apple Arcade, not to mention the leverage of its hardware ecosystem, a luxury Zynga does not have.However, it's important to note that the company's stellar sales growth in 2019 has come on the back of two acquisitions. A daily spend of $0.202 on the Zynga platform results in a monthly expenditure of about $6, which is more than what a user would pay for an Apple Arcade subscription. Universal Games and Digital Platforms and Zynga Collaborate to Bring Additional Fast & Furious Content to CSR Racing 2 Mobile Game. So far so good, right?With shares trading at 25 times forward earnings estimates, Zynga stock is no bargain, especially for a small player in a crowded market, one that is relying on a shrinking number of customers to drive its results.Though Wall Street remains bullish on this $6 billion company, there are serious valuation concerns and risk factors that investors need to be mindful of going forward.On the bottom line, Zynga reported adjusted earnings of $0.05 per share, in line with Wall Street estimates.
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