BustVille: Zynga shares down an astounding 35% in after-hours trading

25 Jul

Reblogged from VentureBeat:

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Social game-maker Zynga's shares lost about 35 percent of their value in after-hours trading today, a response to the company's disastrous earnings report.

Zynga reported revenue of $332 million and a net loss of $22.8 million, or 3 cents a share. That's far below the estimated $0.06 per share many analysts predicted. Comparably, the company had revenue of $279 million and net income of $1.4 million a year ago in the same quarter.

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