Submitted by Fox First at Ten on October 26th
By The Associated Press
Facebook and other companies that went public recently are starting to report quarterly earnings. Here's a look at earnings reports from some tech companies that had IPOs since last year.
- Oct. 4: Zynga Inc., the maker "FarmVille" and other online games, says it expects a loss for the third quarter due to weak demand for some of its titles. It's also taking a charge related to its acquisition of OMGPop, a mobile game maker, which it bought for $183 million in March.
- Tuesday: Facebook Inc. discloses that some 14 percent of its ad revenue came from mobile advertising. It started showing ads to users who access Facebook from their phones and tablet computers about six months ago. Investors have been worried that Facebook isn't taking advantage of its growing mobile user base. It began trading on May 18, 2012.
- Wednesday: Zynga Inc. reports stronger-than-expected revenue for the third quarter, with a 3 percent growth from a year ago to $316.6 million. Interest in many of its Facebook games has been waning, and Zynga has had trouble making money from mobile games. The company, which has been trying to convince investors that it can revive growth, says it has signed a deal to offer online poker and casino games, played with real money, in the U.K. It plans to launch those games in the first half of 2013. Zynga began trading on Dec. 16, 2011.
Angie's List Inc. posts a wider loss in the third quarter due to hefty advertising spending, but succeeded in attracting hundreds of thousands of new subscribers to its online business ratings and reviews, boosting revenue by 75 percent. Its first day of trading was Nov. 17, 2011.
Coming up:
- Thursday: LinkedIn Corp. (first day of trading on May 19, 2011), Yelp Inc. (first day of trading on March 2, 2012)
- Nov. 5: Jive Software Inc. (first day of trading on Dec. 13, 2011)
- Nov. 8: Groupon Inc. (first day of trading on Nov. 4, 2011)
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