Zynga reported second-quarter earnings lower than expected Wednesday, sending its stock sinking as much as 40 percent Thursday morning. The maker of popular social games such as “FarmVille” and “Words With Friends” reported a net loss of more than $22.8 billion, or 3 cents per share. Facebook was partially to blame for its higher-than-expected losses, Zynga said, as the social network made changes to the way it promotes games, favoring newer titles. That wasn’t all bad for Zynga, though — it allowed its new “Bubble Safari” game to grow more quickly than previous launches.
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Zynga Loses Points With Investors
Posted by: Rachelle Dragani July 26, 2012 11:33 AMZynga reported second-quarter earnings lower than expected Wednesday, sending its stock sinking as much as 40 percent Thursday morning. The maker of popular social games such as “FarmVille” and “Words With Friends” reported a net loss of more than $22.8 billion, or 3 cents per share. Facebook was partially to blame for its higher-than-expected losses, Zynga said, as the social network made changes to the way it promotes games, favoring newer titles. That wasn’t all bad for Zynga, though — it allowed its new “Bubble Safari” game to grow more quickly than previous launches.