Zynga Earnings: ZNGA Stock Surges on Q4 Earnings Miss, Billings Beat

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Zynga earnings (NASDAQ:ZNGA) were unveiled after Wall Street closed on Wednesday, with the company’s results coming in mixed and sending ZNGA stock higher late in the day.

Zynga Earnings

The mobile game developer — based out of San Francisco — posted fourth-quarter net income of $559,000, or less than a penny per share to close out its fiscal 2018. The company added that it brought in an adjusted EBITDA of roughly $37.1 million for the period.

Analysts were calling for Zynga to report GAAP earnings at the break-even mark, while expecting adjusted EBITDA of roughly $50.8 million, according to data compiled by FactSet. Its revenue reached $248.7 million, while bookings — which indicate future business it has on tab — tallied up to $267.3 million.

Wall Street was calling for revenue of $244.1 million, as well as bookings of $259.6 million, according to FactSet. For its first quarter of its fiscal 2019, Zynga predicts a net loss of $59 million, or 6 cents per share, as well as an adjusted EBITDA loss of $29 million.

Analysts project the company to bring in an adjusted EBITDA of $48.8 million, per FactSet. The developer is also expecting the first quarter to rake in sales of $240 million and bookings of $325 million, while Wall Street sees the company’s sales at $265.5 million and its bookings at $294 million, per FactSet.

ZNGA stock was gaining about 4.4% after the bell Wednesday as the company’s billings were a positive during the period. Shares had been sliding more than 1.5% during regular trading hours in anticipation of the company’s latest results.


Article printed from InvestorPlace Media, https://investorplace.com/2019/02/zynga-earnings-znga-stock/.

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