Zynga Shares Jump On Earnings As Frank Gibeau Joins Board

Zynga Earnings Report Increases Share Pricing

Zynga reported better than expected earnings on Friday and the company’s shares jumped by 3.7 percent after beating analyst expectations for the second quarter 2015.

Zynga reported $199.9 million in revenue for the quarter, with a loss of a penny per share. The social gaming network also reported $174 million in quarterly bookings, topping internal forecasts.

“Our teams have been executing well and delivered strong Q2 results while also making significant progress against our best growth opportunities,” said Zynga CEO Mark Pincus in a statement.

The company also announced that 20-year Electronic Arts veteran Frank Gibeau would be joining the company’s board of directors.

“Zynga has the products, the people and the powerful plan needed to make its mission to connect the world through games a reality,” said Gibeau in a statement.

With new leadership and better than expected earnings, could we be seeing a new, more lean Zynga? The company still has a lot of competition and it really needs to update its lineup of hit games if it hopes to keep momentum in its favor.

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Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.