Business Insider: Zynga is crashing after a bad earnings report.
The stock has been on a wild ride after-hours. It dropped hard, then bounced back to be down 2%, then it fell more than 14%, and now it's down 7%.
It missed expectations and lowered its guidance.
Revenue was $153 million, a 34% drop year-over-year, versus expectations of $191 million. It provided Q3 guidance of $160-$170 million, which is way below analyst expectations of $212.35 million.
It also lowered full-year guidance. It says, "Bookings are projected to be in the range of $695 million to $725 million, compared to previous expectation between $770 million to $810 million."
The acquisition of Zynga by Take-Two Interactive might become the video game industry's version of the AOL Time Warner merger.
I have to give props for the use of Electric Boogaloo reference. I don't think many young folk will even know what that is.
On topic... wasn't that where Don Mattrick went after leaving XB?
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Enter the Mattrick!
The Mattrick Effect is incredible.
Mattrick and zynga make the perfect pair.
And this surprises people why???
Lol, be gone Zynga! The only tear I shed are for the many underpaid QA workers you contract out and use as slaves for a year and let go.
The board of trustees will soon buyout Mattrick and he'll pimp walk to another company and get an even bigger paycheck?