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Zynga cuts 2014 forecast, delays various gaming titles

08
Aug
2014

By Malathi Nayak SAN FRANCISCO (Reuters) – Zynga Inc on Thursday reported unexpectedly weaker second-quarter bookings, and slashed its 2014 forecast after saying it had delayed several games including a revamped version of Zynga Poker. Shares in the San Francisco-based mobile gaming company, known for the FarmVille game, were down 9 percent in after-hours trading on the Nasdaq after ending Thursdays session up 13 cents at $2.92. In an interview with Reuters, Zynga Chief Executive Officer Don Mattrick said the company had examined its new product pipeline and decided that the best choice for the medium and the long term was to move that revenue effectively from 2014 to 2015. Moving revenue is on one hand is clearly discouraging ….but we are being consistent against our lens of medium- to long-term choices for the benefit of customers and shareholders, Mattrick said. Other delayed titles included Words with Friends and mobile games from Natural Motion, a studio it acquired for $527 million in January.

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