Social gaming giant Zynga will not make its public trading debut until after the U.S. Thanksgiving holiday, according to a report by Bloomberg News.
Zynga returned to profitability in its most recent quarter and its revenue rose 80 percent year over year to $307 million. Its monthly players fell from 228 million at the end of June to 227 million at the end of September.
Paired with the news of a big half-billion-dollar acquisition , Zynga is also laying off about 15 percent of its workforce, or about 314 employees. This is part of a cost-reduction plan that is supposed to generate $33 million to $35 million in savings this year, excluding a $15 million to $17 million restructuring charge.
This has been a year for failures. HealthCare.gov, the Facebook Phone, Microsoft’s bailout of Nokia, and the abortive sale of BlackBerry were just exclamation points on a year that saw the economy slowly turn around. Some companies succeeded wildly, and others…well, not so much.
Social gaming firm Zynga today plunged 12 percent in regular trading, following a warning bySterne Agee’s Arvind Bhatia , whichindicated that the market’s fourth-quarter consensus may be too optimistic.
We've grown accustomed to Googlemaking piles of money, and the fourth quarter of fiscal year 2013 continues the trend . How big's the pile this time? $16.86 billion in revenue and almost $4 billion in income for Q4. Google's own sites accounted for around two-thirds of its inbound cash overall, and its international properties continue to be strong performers, with $8.
Twitter’s initial public offering highlights many of the social network’s differences from rivals like Facebook . But the company’s prospectus highlights one unexpected change: the lack of multiple classes of stock.
Instead, shareholders will all have a single vote on corporate matters.
That marks a big change from the big Internet I.P.O.
Microsoft appears to be having a good quarter, as they've announced their financial second quarter (ending on December 31st, 2013), has resulted in record revenue. This revenue high-mark sits at $24.52 billion USD and represents double-digit growth in each of the following segments: commercial, devices, and consumer.
Zynga broke a lot of hearts when it announced it would be shutting down YoVille , a virtual world online game that’s been running since 2008. The game’s players have been building their simulated communities for many years now, but they only have until March to say goodbye. Unless, that is, YoVille’s original creator and his new game studio have their way.
Words With Friends game maker Zynga announced that it is acquiring U.K.-based gaming company NaturalMotion for $527 million in cash and equity. The company also announced that it would be laying off about 15% of its workforce — that comes out to roughly 314 employees.
Gaming giant Zynga has started to accept the cryptocurrency as a payment option for those buying tokens for virtual goods on the web versions of FarmVille 2, CastleVille, ChefVille, CoasterVille, Hidden Chronicles, Hidden Shadows and CityVille. It makes Zynga the first major gaming company to accept Bitcoin. Zynga posted the news first on Reddit rather than release an official announcement.
In a rather ironic turn of events, game maker Zynga acquired gaming company NaturalMotion for a whooping amount of $527 million. And then on the same day, it also let go 314 employees, around 15 percent of its entire roster.
Silicon Valley InsiderRead more in the series » This is part of the " Silicon Valley Insider " series, looking at the passions, hobbies, and pursuits of Silicon Valley's tech elite. "Silicon Valley Insider" is sponsored by MercedesBrit Morin runs a modern day Martha Stewart brand, Brit + Co. She gives a lot of creative how-to advice, and her creativity shines in her wardrobe as well.
Since its public offering, Facebook has been on a ride. The company went public for $38 a share, fell to as low as $18 per share, and has since rocketed over the $50 dollar mark. The company is now quasi-legendary for its shift from desktop to mobile ad revenues.
Nokia will report its fourth-quarter 2013 earnings tomorrow, a seminal moment for the company as the figures will represent the last full period in which it will own the hardware assets that it is selling to Mi
Welcome to our new Payments Insider newsletter, a morning email with the top news and analysis on the digital payments industry, produced by BI Intelligence UPGRADING TO CHIP AND PIN CARDS CARRIES A HEFTY PRICE TAG FOR TARGET. Upgrading Target's systems to the EMV or "chip card" standard would cost $100 million, according to John J.
Twitter isn't a public company just yet, but its updated S-1 filing hit today and showed how it's grown in the last three months. While it showed 218 million monthly active users by the end of June, its Q3 stats have grown to 232 million (53 million of them are in the US). While the number of users accessing the service from mobile devices grew slightly from 75 to 76 percent, ad revenue on mobile grew 37 percent since the last report, compared to other revenue which was up 9 percent.
reported After the bell this afternoon, Twitter reported its maiden earnings as a public company, with fourth-quarter revenue of$242.7 millionand earnings per share of$0.02 (non-GAAP). Analysts had expected Twitter to lose two cents per share on total revenue of$217.82 million.
Zynga has long been famous (or infamous?) for its data-driven approach to game design. The company never focused on building strong character IP, or intellectual property, in favor of releasing games that had been thoroughly funnel-tested. But now that founding CEO Mark Pincus has stepped aside and let Xbox executive Don Mattrick take the reins, perhaps the company is going in a totally new direction.