Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. "I'd say it's too early to call it after one quarter," Pincus replied. Zynga ( ZNGA) also put some of the blame on its purchase of OMGPOP, which it bought in March just six weeks after the company released its smash hit, "Draw Something." The game scored millions of downloads, but the frenzy turned out to be a short-lived fad.ĭuring Fortune's Brainstorm Tech conference in July, CNNMoney's Ben Baer asked Pincus whether he overpaid for OMGPOP.
#Omgpop writedown full
The full results will be released on October 24. The company expects earnings to come in between 0 and 1 cent per share on sales of $300 million to $305 million. Zynga's new estimates for the quarter are still in line with or above analysts' expectations. Specifically, Zynga cited weakness in its flagship -Ville games line, which includes FarmVille. CEO Mark Pincus called the quarter "challenging," and added that "as a whole we did not execute to our satisfaction." The company also previewed results from its most recent quarter, which ended September 30.
Zynga's shares are down more than 75% this year.
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