Zynga releases Q4 report early, buying game developer for - TopicsExpress



          

Zynga releases Q4 report early, buying game developer for $527M Jan 30 2014, 16:14 ET Zynga (ZNGA) has released its Q4 report a week ahead of schedule. The company had Q4 bookings of $146.7M (-44% Y/Y), and EPS of -$0.03. That beats a consensus of $141.1M and -$0.03.Zynga also announces its buying leading mobile game developer NaturalMotion (responsible for hit titles such as CSR Racing and Clumsy Ninja) for $527M - $391M in cash and 39.8M shares.Also: Zynga is cutting another 314 jobs (15% of its workforce). It expects to record pre-tax charges of $15M-$17M, and achieve $33M-$35M in annual cost savings.Zynga expects Q1 bookings of $138M-$148M and EPS of -$0.01 vs. a consensus of $145.6M and -$0.02. It expects 2014 bookings (boosted by NautralMotion) of $760M-$810M and EPS of $0.01-$0.03 vs. a consensus of $629.1M and -$0.04.Shares remain halted. Sent to 14,801 people who get email alerts on ZNGA.
Posted on: Fri, 31 Jan 2014 00:02:15 +0000

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