UPDATE: ZNGA re-opened -13%; now -16%
That foundation of social media monetization has just announced a cut to its outlook and plenty more. The stock is currently halted but its proxy FB is being sold after-hours...
- *ZYNGA SEES YR BOOKING $1.085B TO $1.100B, SAW $1.15B-$1.225B
- *ZYNGA 3Q PRELIM EST. $286.4M, SAW $300M-$305M, :ZNGA US
- *ZYNGA SEES YR ADJ EBITDA $147M-$162M, SAW $180M-$250M :ZNGA US
- *ZYNGA 3Q PERLIM ADJ. BREAKEVEN-LOSS 1C; SAW BREAKEVEN
- *ZYNGA CITES REDUCED EXPECTATIONS FOR `THE VILLE,' OTHERS
- *ZYNGA SEES CHARGE ON INTANGIBLE ASSETS ACQUIRED ON OMGPOP
Who couldanode? Securitizing synthetic farms and paying huge premia for acquisitional growth wouldn't pay off? Is OMGPOP accepted as collateral at the ECB yet? More importantly, the question is whether the ZNGA management team has considered whether or not to apply for a Virtual and quite conditional ECB bailout yet...