Zynga (NASDAQ:ZNGA) was trading down in after-hours trading Tuesday after it posted a quarterly loss but beat Wall Street expectations.
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) jumped about 28% after its first earnings report as a publicly trading company 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), 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) 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, is the tax-efficiency of the deal.
Three Up
- LivePerson (NASDAQ:LPSN): Up 18.8% ($2.37) to $14.96.
- Fossil (NASDAQ:FOSL): Up 14.7% ($15.32) to $119.82.
- Rackspace Hosting (NYSE:RAX): Up 12.6% ($6.22) to $55.45.
Three Down
- Masco (NYSE:MAS): Down 12.1% ($1.60) to $11.63.
- MEMC Electronic Materials (NYSE:WFR): Down 10.8% (57 cents) to $4.72.
- Goodyear Tire & Rubber (NYSE:GT): Down 5.2% (72 cents) to $13.25.
Kyle Woodley is the assistant editor of InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here.
