The shares of Zynga Inc(NASDAQ:ZNGA) tumbled to another new low in late hours on Wednesday with stock plunged a whopping 37% to $3.20 as the game provider reported much lower than anticipated second quarter earnings and revenue. If, that’s not enough, here is more surprise – The company trimmed its earnings outlook.
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The company which is popular for games like "CityVille" and "FarmVille" said that it lost $22.8 million, or 3 cents a share in the latest quarter, reversing a year ago profits of $1.4 million. On an adjusted basis, the company would have earned a penny, well below analysts’ target of 5 cents a share. Revenue came in at $332 million, up 19% year over year, while missing analysts’ estimates of $342.8 million.
For the full year, the company now projects to earn 4-9 cents a share on revenue range of $1.15 billion-to-$1.23 billion, well below from its prior forecast of 23-29 cents per share on revenue range of $1.43 billion-to-$1.5 billion.
Shares of Facebook Inc(NASDAQ:FB) too came under heavy selling pressure in after hours and tumbled over 4.50% as the company’s ad business is largely dependent on usage of desktop, while ZNGA’s earnings suggest that users might have switched to mobile, which could affect Facebook’s upcoming earnings due late Thursday July 26, 2012.
Shares of Crocs, Inc.(NASDAQ:CROX) climbed in after hours after the company posted strong second quarter earnings on increased revenue. The company earned $61.5 million or $0.68 per share on revenue of $330.94 million in the latest quarter, compared to a year ago profit of $55.5 million or $0.61 per share on revenue of $295.59 million. Analysts were estimating the company to report 63 cents a share on revenue of $339.87 million for the quarter.
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For the third quarter, the company projects to earn $0.42 to $0.44 per share on revenue of $300 million. Analysts currently expect the company to earn $0.42 a share on revenues of $319.43 million.
Shares of CROX jumped 4.75% in after-market activity.
Whole Foods Market, Inc.(NASDAQ:WFM) shares climbed 11% in after hours after the company posted solid third quarter earnings, triggering the company lifted its full year guidance.
The company posted net income of o $116.8 million, or 63 cents per share, up 32% from a year ago profit of $88.5 million, or 50 cents per share, analysts of analysts’ estimates by 2 cents.
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Revenue grew 14% year over year to $2.73 billion from $2.4 billion, in line with Wall Street's forecast. Same-store sales rose 8.20%.
For the full year, the company projects to earn $2.51 to $2.52 per share , up from its previous forecast of $2.47 per share and tops analysts' $2.46 per share forecast.