Zynga Takes a $95 Million Hit; Stock Falls to New Low
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Zynga’s stock price fell 18% in after hours trading after the company announced some brutal preliminary financial results for Q3 2012.
The company also updated its outlook for 2012, lowering its guidance for its projected bookings and adjusted earnings before interest, taxes, depreciation and amortization.
For Q3 2012, the company expects to report a net loss of between $90 million and $105 million and and a diluted EPS (earnings per share) between $0.12 and $0.14.
As bad as that is what really stuck out to us is that Zynga will be taking an impairment charge between $85 million and $95 million “related to the intangible assets previously acquired in connection with the company’s p…
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