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.
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