Zynga reported an unexpectedly strong Q1 this week, but investors chose to focus on its lower guidance for future growth in the casual gaming industry. The company brought in $264 million in revenue on the quarter, down 18 percent from the same time a year ago but beating estimates that were closer to $209 million. Despite those results, investors sent the company’s stock sliding by about nine percent in after-hours trading, largely because of Zynga’s weak forecast for its current second quarter.
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No Extra Points for Zynga's Strong Q1
Posted by: Rachelle Dragani April 25, 2013 11:03 AMZynga reported an unexpectedly strong Q1 this week, but investors chose to focus on its lower guidance for future growth in the casual gaming industry. The company brought in $264 million in revenue on the quarter, down 18 percent from the same time a year ago but beating estimates that were closer to $209 million. Despite those results, investors sent the company’s stock sliding by about nine percent in after-hours trading, largely because of Zynga’s weak forecast for its current second quarter.