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.
Mark Pincus, the founder of Zynga, is stepping back from the once-hot social gaming company as its new leader seeks a turnaround.Zynga said that Mr. Pincus decided to give up all operational responsibilities at the company, though he will remain its chairman and largest shareholder. Nearly a year ago, Mr.
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.
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.
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.
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.
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.
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.
As it has been for the past several years, Google has reported a quarter in which they’re growing substantially. One of the more interesting things to have happened to the company in the first quarter of 2014 - also Google’s financial first quarter - is the sale of Motorola Mobility to Lenovo Group Limited.
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.
. Gross bookings were $641.1 million, which is up from the previous quarter of $632 million. EPS was $0.61 versus analyst estimates of $0.57.Monthly active users were 481 million, up from the previous quarter which had 408 million monthly active users. Daily active users were also up: 143 million versus 124 million the quarter before.
Shares of TubeMogul, a digital branding company, surged more than 60% in their public debut Friday. TubeMogul priced its IPO at $7 per share, and the stock finished Friday at $11.50 for a gain of 64% on its first day of trade. At its current stock price, TubeMogul's market cap is about $329 million. TubeMogul is a software company that operates a video advertising platform.
An inefficiency in the US tax code is causing US multinationals to hold more and more cash overseas. According to data analyzed by Bloomberg , US companies are now holding about $2 trillion abroad.The multinational companies have accumulated $1.95 trillion outside the U.S., up 11.8 percent from a year earlier, according to securities filings from 307 corporations reviewed by Bloomberg News.
Wondering why you still need a cable TV package to subscribe to HBO in the US? Because HBO is making truckloads of cash keeping things the way they are -- even though that might not last forever. Its parent company Time Warner (which spun off Time Warner Cable in 2009)announced financial results for the year, and for the first time in years, it included some details about HBO's business.
Twitter is struggling to convince Wall Street that it is still a company with plenty of potential to grow, Nicole Perlroth reports.In its second earnings announcement as a public company, Twitter said on Tuesday that it had more than doubled its revenue, beating its own forecasts and the expectations of investment analysts.
Amazon clearly didn't have any problems generating a profit this holiday. The online retail powerhouse says that it made atidy profitof $239 million in the fourth quarter of 2013, or more than twice as much as it manageda year earlier. That's on top of a year-over-year revenue increase, to boot -- Amazon raked in $25.59 billion during the quarter versus $21.27 billion at the tail end of 2012.