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Zynga (NASDAQ:ZNGA) shares crashed nearly 39 percent in off-hours trading after the social-gaming company on Wednesday reported earnings on an adjusted basis of $4.5 million (1 cent per share), compared to estimates of 5 cents per share. Facebook (NASDAQ:FB) shares also dropped more than 8 percent on the news.
Shares of Visa (NYSE:V) charged 1 percent higher in late trading yesterday. The company reported a loss of $1.84 billion for the third quarter, but earnings on an adjusted basis came in at $1.56 per share, beating estimates of $1.45 per share. Revenue also rose 10.5 percent to $2.56 billion. “Visa once again reported solid global growth in payments volume, cross border transactions and processed transactions outside the U.S., executing on our strategy of growing the electronification of payments worldwide. We are pleased that we were able to come to a resolution in the merchant litigation which was acceptable to most parties while ensuring the long-term health of the U.S. payments industry,” said Joseph Saunders, chairman and chief executive officer.
Las Vegas Sands (NYSE:LVS) shares are down 4.88 percent in pre-market trading this morning. The company said net income fell to $240.6 million (29 cents per share) for the second quarter, compared to $410.6 million (45 cents per share) a year earlier. Mr. Sheldon G. Adelson, chairman and chief executive officer, stated, “While our quarterly results did not meet my expectations, and were impacted by lower hold on table games play compared to last year’s second quarter, higher provisions for accounts receivable at Marina Bay Sands in Singapore, and elevated legal expenses, our financial results reflected solid revenue growth overall and significant cash flow in both Macao and Singapore, as well as the continued steady execution of our Cotai Strip development plan in Macao.”
Whole Foods Market (NASDAQ:WFM) shares surged 11.61 percent after reporting impressive financial results for the third quarter. Net income jumped 32.1 percent to $116.8 million (63 cents per share), compared to $88.5 million (50 cents per share) a year earlier. “In an economic environment that is proving to be difficult for many retailers, we are thriving and pleased to report another quarter of strong growth and excellent results for our stakeholders,” said Walter Robb, co-chief executive officer of Whole Foods Market.
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