Zynga lowers Q3 forecasts, stocks take another hit
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Zynga has revised its outlook for the remaining financial year ahead of its third quarter financial briefing. The social publisher now expects revenues of $300-305 million, with a net loss of $90-105 million; that's a significant drop in income on its already weak second quarter, and a whopping jump in the loss column. CEO Mark Pincus issued a soothing statement detailing the company's plans to turn back around, but Zynga's stock took an immediate drubbing, falling 18% to $2.30.
Thanks, Gamasutra