Game Over, Zynga? Stock Down 40% After Poor Earnings

Zynga reported its second quarter earnings Wednesday and the results aren't good, falling short of analyst estimates for both revenue and earnings per share.

This is only Zynga's second quarter as a public company and after tepid first quarter earnings, the company needed a win. That didn't happen. The stock is down nearly 40% after-hours trades at the the time of this writing.

Looking at the results, its hard to find any bright spots for the social gaming giant.

Revenue was $332 million, up 19% year over year, but falling short of analyst expectations. Moreover, bookings were down 8% compared with the first quarter of 2012.

Zynga also reported a net income loss of $22.8 million,…
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