It’s not all fun and games in Facebook-land. According to the New York Post Zynga, the No.
1 developer of games on the social network, shocked Wall Street yesterday with
a second quarter loss of 3 cents a share and revenue that missed expectations.
The horrible results — which the company pegged, in part, to
the disappointing performance of its “Draw Something” game, sent Zynga shares
plunging 37 percent in after-hours trading to below $4 a share. And since Zynga is a big traffic producer for Facebook,
shares in the social network giant slipped nearly 8 percent in after-hours
trading.
Zynga’s “FarmVille” and “CityVille” games have grown long in
the tooth and are afterthoughts to many who have moved to mobile platforms....
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