Is Zynga Poised to Trade At Yearly Highs After Earnings?
T = Trends for a Stock’s Movement
Zynga is a provider of social game services with 240 million average monthly active users in more than 175 countries. The company develops, markets, and operates online social games as live services played over the Internet and on social networking sites and mobile platforms. Zynga’s games are accessible on Facebook (NASDAQ:FB) and other platforms to players globally, wherever and whenever they want. It operates its games as live services, and they are all free to play. However, it does generate revenue through the in-game sale of virtual goods and advertising.
The biggest mover in the after hours period was Zynga, which saw a jump of nearly 15 percent in its share price after earnings showed that the company had managed to trim losses in the third quarter to just under $70,000, significantly beating most expectations. The company also announced that Clive Downie would become its new COO. Shares have since tempered off and now stand to have posted gains before the opening bell of just over 10 percent.