Zynga stock tanks after weak 2Q
NEW YORK (AP) -- Online game maker Zynga says it had a loss in the second quarter, with adjusted earnings and revenue below Wall Street's expectations.
Its stock is falling sharply after-hours as a result.
Zynga Inc. said Wednesday that it lost $22.8 million, or 3 cents per share, in the April-June quarter. That's down from earnings of $1.4 million a year ago when it was still privately held. Its per-share results last year were at breakeven.
Adjusted earnings were a penny per share, below expectations of 5 cents per share.
Zynga says revenue grew 19 percent to $332 million. Analysts surveyed by expected $342.8 million.
Zynga had a lot riding on this quarter. Investors had been punishing its stock because of worries about declining user numbers.