Zynga Shares Were Down Another 6 Percent Thursday
After falling 10 percent in after hours trading Wednesday, social gaming company Zynga witnessed another 6 percent drop in its share price heading into Thursday afternoon.
The company's surprise profit in the first three months of this year was overshadowed by reported revenue decline, a drop in the number of users and a lower-than-expected second-quarter forecast.
Revenue fell 18 percent to $263.6 million, from $321 million.
Analysts, on average, had expected revenue of $264.5 million, according to FactSet.
Zynga has already moved into the real money online gambling arena in Great Britain, however, that has failed to significantly boost overall traffic for bwin.party thus far, which now hosts the Zynga real money sites. The company hopes to enter the US market with real money gambling by year’s end.
- Aaron Goldstein, Gambling911.com
