Zynga Slips To Loss In Q1; Issues Q2 Outlook - Quick Facts

(RTTNews) - Zynga, Inc. (ZNGA) Wednesday said first-quarter net loss was $61.2 million or $0.07 per share, compared to net income of $4.1 million or $0.00 per share in the same period last year.

Adjusted loss for the quarter was $6.3 million or $0.01 per share, compared to net income of $9.1 million or $0.01 per share in the prior year quarter. On average, 24 analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues decreased to $168.02 million from $263.59 million last year. Bookings were $161.36 million, down from $229.82 million in the year-ago period. Analysts expected revenues of $146.52 million.

Looking ahead to the second quarter, the company expects a loss in the order of $0.08 to $0.07 per share, with adjusted earnings in the range of $0.00 per share to $0.00 per share. Revenues are expected to range between $140 million and $160 million. Analysts currently expect the company to report a loss of $0.01 per share on revenues of $185.87 million.

For the fiscal year 2014, the company continues to expect adjusted earnings in the order of $0.01 to $0.03 per share. Bookings are projected to be in the range of $770 million to $810 million. Analysts currently expect a full-year earnings of $0.01 per share for 2014 on revenue of $783.61 million.