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Zynga's Big Revenues And Smallish Profits
Unlike some of the other companies that have filed for IPOs, Zynga appears to be a very big and healthy business.
It generated $235 million in revenue for the March quarter, which is up 153% from the same period a year ago when it generated $101 million. The company's net income is $11.8 million for the quarter, up from $6.4 million in the same period a year prior.
While it's a solid profit, it's nowhere near the crazy profits being rumored prior to the filing. In February, the WSJ reported Zynga had $400 million in profit on $800 million in revenue for 2010. Zynga's official numbers for 2010: $58 million in net income on $597 million revenue.
In this chart you can see net income was down quarter over quarter. Reading through the S1 it looks like that's thanks to an increase in headcount, which affects R&D and administrative costs, as well as increased investment in web-hosting costs to accommodate more players using Zynga. Read » | | | | | | | | | | | | | | | | | | | The email address for your subscription is: dwyld.kwu.wyldside@blogger.com
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