Zynga, Kors on IPO Earnings Forefront — Tuesday’s IP Market Recap
by Kyle Woodley | February 14, 2012 5:44 pm
[1]Zynga (NASDAQ:ZNGA[2]) was trading down in after-hours trading Tuesday after it posted a quarterly loss but beat Wall Street expectations[3].
In the online gaming company’s first report as a public company, it posted a net loss of $435 million, or $1.22 per share. However, adjusted earnings per share were 5 cents, beating estimates of 3 cents. Revenue was up 59% to $311 million, and bookings were up 26% to $306 million. Still, ZNGA shares were down almost 5% soon after the bell.
In other IPO earnings news, global fashion brand Michael Kors (NYSE:KORS[4]) jumped about 28% after its first earnings report as a publicly trading company[5] was a screaming success. The company’s revenues were up 68% on same-store sales increases of 38% and 34% in North America and Europe, respectively. Earnings of 28 cents per share were up 40% from a year ago and far ahead of analyst expectations for 9 cents.
Also, Zipcar (NASDAQ:ZIP[6]), which went public last April, lost 14% despite a strong earnings report. The company’s revenue was up 21% to $63 million, and earnings were up to 9 cents per share, reversing a loss of 17 cents the year before and topping estimates of a break-even quarter. However, concerns about European growth sent the stock lower.
Yahoo (NASDAQ:YHOO[7]) shares dropped about 4.7% after reports out Tuesday said the company’s talks about selling its Asian assets, Allibaba Group Holding Ltd. and Yahoo Japan, had stalled. The main hangup, according to AllThingsD[8], is the tax-efficiency of the deal.
Three Up
- LivePerson (NASDAQ:LPSN[9]): Up 18.8% ($2.37) to $14.96.
- Fossil (NASDAQ:FOSL[10]): Up 14.7% ($15.32) to $119.82.
- Rackspace Hosting (NYSE:RAX[11]): Up 12.6% ($6.22) to $55.45.
Three Down
- Masco (NYSE:MAS[12]): Down 12.1% ($1.60) to $11.63.
- MEMC Electronic Materials (NYSE:WFR[13]): Down 10.8% (57 cents) to $4.72.
- Goodyear Tire & Rubber (NYSE:GT[14]): Down 5.2% (72 cents) to $13.25.
Kyle Woodley[15] is the assistant editor of InvestorPlace.com[16]. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here[17].
- [Image]: https://investorplace.com/hot-topics/investorplace-market-recap/
- ZNGA: http://studio-5.financialcontent.com/investplace/quote?Symbol=ZNGA
- posted a quarterly loss but beat Wall Street expectations: https://investorplace.com/ipo-playbook/zyngas-game-is-on/
- KORS: http://studio-5.financialcontent.com/investplace/quote?Symbol=KORS
- first earnings report as a publicly trading company: https://investorplace.com/ipo-playbook/michael-kors-is-in-season-for-investors/
- ZIP: http://studio-5.financialcontent.com/investplace/quote?Symbol=ZIP
- YHOO: http://studio-5.financialcontent.com/investplace/quote?Symbol=YHOO
- according to AllThingsD: http://allthingsd.com/20120214/exclusive-yahoo-asia-deal-talks-off/
- LPSN: http://studio-5.financialcontent.com/investplace/quote?Symbol=LPSN
- FOSL: http://studio-5.financialcontent.com/investplace/quote?Symbol=FOSL
- RAX: http://studio-5.financialcontent.com/investplace/quote?Symbol=RAX
- MAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=MAS
- WFR: http://studio-5.financialcontent.com/investplace/quote?Symbol=WFR
- GT: http://studio-5.financialcontent.com/investplace/quote?Symbol=GT
- Kyle Woodley: https://investorplace.com/author/kyle-woodley/
- InvestorPlace.com: https://investorplace.com/
- here: https://investorplace.com/hot-topics/investorplace-market-recap/
Source URL: https://investorplace.com/2012/02/zynga-michael-kors-znga-earnings-zipcar-yahoo/