Zynga (ZNGA) Posts Q4 Loss of $0.04/Share

Zynga (NASDAQ: ZNGA) reported Q4 EPS of ($0.04), which may not compare to the analyst estimate of $0.01. Revenue for the quarter came in at $190.5 million versus the consensus estimate of $192.65 million.

"We had a strong Q4 and made significant progress this year in our turnaround and we’re encouraged by the fundamentals of our business as we head into 2017. We’re pleased with the performance of our live services and the quality of our new releases as we improved profitability and continued to sharpen our operating model,” said Frank Gibeau, CEO of Zynga. “We rallied around our company mission to connect the world through games and create the highest quality social experiences for our players. Our renewed commitment to our live operations is paying off with Zynga Poker and Words With Friends delivering outstanding revenue and bookings. We improved our quality and predictability, launching all games in our 2016 slate including two new NaturalMotion titles – CSR2 and Dawn of Titans – which we expect to be long term mobile franchises for us.”

“In Q4 we delivered another strong quarter with GAAP revenues of $190.5 million, above the high end of our guidance range, up 3% year-over-year and GAAP Net Loss was $35.4 million, below our guidance range but an improvement of 31% year-over-year. Our topline performance was driven by better than expected mobile bookings from Zynga Poker and CSR2, offset by correspondingly higher revenue deferrals. GAAP operating expenses were $162.4 million, down 8.5% year-over-year. Non-GAAP operating expenses were $126.3 million, down 3.1% year-over-year and in line with our expectations resulting in higher operating leverage in the quarter. Our Adjusted EBITDA, which includes the change in deferred revenue, was $10.6 million, $1.4 million below our guidance range, due to the negative impact of higher revenue deferrals. Overall, our strong business performance delivered operating cash flow of $27.7 million, up $24.3 million year-over-year,” said Ger Griffin, CFO of Zynga.

For earnings history and earnings-related data on Zynga (ZNGA) click here.

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• Equinox Gold Announces Filing and Mailing of Meeting Materials for the Special Meeting of Shareholders to Approve Business Combination with Orla Mining
• SPS Commerce hires Morgan Stanley to explore sale amid activist push - Reuters