Boston, MA 02/11/2014 (wallstreetpr) – Zynga Inc (NASDAQ:ZNGA) at the back of a $176 million in total revenue for the fourth quarter of F2013 seems to be performing better than analyst’s expectation. Despite the impressive fourth quarter its earnings were below F2012 same quarter results, a slump of 43%. The results were impressive as they beat Wall Street estimate for the quarter. Zynga only lost 3 cents a share against 4 cents that analysts had anticipated. The earnings enabled Zynga rise in the market by 23% to close the trading session at $4.38.
The increase in the stock price was a surprise as the company had initially announced a drop in monthly users who were down to $112 million. This is considerable decline considering the company commanded a huge user base of 298 million as of the fourth quarter of F2012. This is also a drop of 16% compared to the third quarter of F2013 which stood at 133 million.
Zynga working with a sense of urgency
Zynga Inc. (NASDAQ:ZNGA) has been working with a sense of urgency in trying to address the challenges that are considerably eating up on its potential of delivering good results. Zynga Chief executive officer Don Mattrick exhumed confidence the company is to perform even better in F2014 compared to F2013.
Zynga is currently setting a solid foundations as it tries to position itself strategically in the market. The efforts seem to be paying off as Zynga has acquired gaming guru NaturalMotion for $527 million. This venture is sure to boost even higher the confidence of analysts in Wall Street. Zynga franchises are beginning to bear fruit being led by Zynga Casino and Words with friends.
Monday saw Zynga Inc. (NASDAQ:ZNGA) trading sparingly in the market as it stock maintained a stable price of $4.56 a slight improvement of 0.66% compared to Friday trading session.
