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Zynga whacked as losses widen

08
Aug
2014

Zynga said Thursday it wants to perform better, as the social games firm reported losses widened and revenues sank in the past quarter, sending its share price tumbling. While our quarterly financial results were in line with our guidance range, we aspire to do better and improve execution across our business, chief executive Don Mattrick said in a statement. Shares in Zynga tumbled nearly eight percent to $2.69 in electronic trades after the news, reflecting investor disappointment. Zynga also lowered its outlook for 2014 primarily to reflect the delayed launch of new games and features, according to its earnings statement.

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