Zynga Lowers Yearly Projections

by , Oct 5, 2012, 12:01 PM
  • Comment
  • Recommend
Subscribe to Around the Net In Online Marketing

Tags

Just when you thought things couldn’t get any worse for Zynga, the once soaring social game maker is lowering it full-year projections, and writing down the acquisition costs of OMGPOP by as much as $95 million.

“It looks like the Cinderella story that was Zynga’s $183 million acquisition of the long-suffering (and then suddenly desirable) startup OMGPOP may not have a fairy tale ending,” writes BetaBeat.

“In other words, the company will be taking an impairment charge for nearly half of the $180 million it paid for the Draw Something creator just six months ago,” Mashable notes. “The problems at Zynga are growing deeper,” writes Forbes.

“Zynga Inc. has gone from hot to cold, and then from cold to frozen,” writes DailyFinance.com. “The … company should have maybe stayed private.”

“The company also now expects to report a net loss of between $90 million and $105 million for the third quarter that ended Sept. 30,” SFGate.com reports. “The reduced expectations are because of lower than expected results for The Ville and delays in launching several new games,” according to VentureBeat.

“It appears the games that helped Zynga cruise to one of the largest tech IPOs are helping lead to its downfall,” The Wall Street Journal’s Digits blog writes.

“Today’s results follow a shockingly poor second-quarter performance and numerous executive departures, both of which led critics to question the state of the company,” AllThingsD reminds us.

Be the first to comment on "Zynga Lowers Yearly Projections"

Leave a Comment

Sign in to leave a comment. Don't have an account? Join Now

Recent Around the Net In Online Marketing Articles

  • Cheaper Nook's Getting Web Browsers, Email  

    Nook Simple Touch, Barnes & Noble’s inexpensive line of e-readers, is getting a Web browser and ...

  • Foursquare Gets $41M In Private Equity  

    Giving itself more time to grow and mature as a business, Foursquare just took $41 million ...

  • Google Unveils Google Keep App  

    Confirming earlier reports, Google on Thursday unveiled a new note-taking app named Google Keep. But, despite ...

  • Nexflix Friends Facebook  

    In what Web watchers are calling a long-overdue integration, Netflix has finally tapped Facebook to offer ...

  • Mason Out At Groupon  

    Andrew Mason is out at Groupon. Yes, after another disappointing quarter -- which sent the deal ...

  • Groupon Loses Market Value  

    In the surest sign yet that the once-booming daily-deal space has busted, Groupon lost a quarter ...

  • Foursquare To Take Credit, Debit Cards  

    In conjunction with its check-in deals program, Foursquare will now accept Visa, Mastercard and debit cards. ...

  • Pinterest Valued At $2.5B  

    Social scrapbooking sensation Pinterest has secured $200 million at a valuation of $2.5 billion. “There have ...

  • HP To Adopt Google's Android System  

    Reshaping the mobile landscape, Hewlett-Packard reportedly plans to adopt Google’s Android operating system to run a ...

  • Amazon Creating App Currency  

    Amazon on Tuesday unveiled a virtual currency for Kindle Fire owners to purchase apps and games, ...

» Around the Net In Online Marketing Archives