Alpha Diallo
All posts from Alpha Diallo
Alpha Diallo in Alpha Diallo,

Zynga in Double Digits on Earnings Release, Acquisition, and Workforce Cut

 (Image source:

Shares of the social media game maker Zynga Inc (NASDAQ:ZNGA) are up double digits in early trading after the company reported fourth quarter losses that were below street estimates. The producer of online games like FarmVille reported a loss of 3 cents in the quarter, one cent below consensus. Besides the quarterly report, the company announced the acquisition of NaturalMotion, a provider of mobile games such as CSR Racing and Clumsy Ninja. Furthermore, Zynga will be reducing its workforce by 15 percent, about 314 workers.