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Zynga shares jump 4% in profit



Zynga Inc.

ZNGA, + 2.31%

traded up 4% on Wednesday's hourly trading after the digital gaming company reported third-quarter results that exceeded analysts' earnings estimates. Zynga reported net income of $ 230 million, or 24 cents a share, up from $ 10.2 million, or one penny a share, from a year ago. (Net income includes one-time profits from the sale of the San Francisco building to Zynga.) Revenue jumped 48% to $ 345 million, up from $ 233.2 million a year ago. Analysts surveyed by FactSet were expecting a profit of 5 cents per share on revenue of $ 386 million. "We're definitely in growth mode here, with bookings of $ 395 million," Zynga CEO Frank Gibeau told MarketWatch in a phone interview. "This should do us good for 2020" The San Francisco-based company raised its year-round revenue guidance to $ 1

.28 billion, up 41% year-over-year and up from $ 42 million from the previous year's guidance. Zynga shares rose 58% this year. The S&P 500 Index

SPX, + 0.33%

has gained 21% this year.


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