Ahead of the Bell: Zynga to post 1Q results
NEW YORK—Zynga Inc., the company behind popular Facebook games such as "CityVille" and "Texas HoldEm Poker," is expected to post higher revenue than a year ago when it was still a private company as players spent more money on its games.
The company reports first-quarter earnings on Thursday after the market closes.
The results come as investors have been pushing Zynga's stock lower amid concerns about its ability to grow quickly. Zynga's games are wildly popular, played about 284 million people on Facebook each month, according to AppData, which tracks Facebook apps.
That's a large user base, but the company has also been expanding beyond Facebook. It owns the popular game "Words With Friends," which can also be played on mobile phones, and it bought OMGPop, the company behind Pictionary-like mobile game "Draw Something," in March.
Analysts, on average, are expecting earnings of 5 cents per share on revenue of $318 million, according to FactSet. San Francisco-based Zynga earned $17 million on revenue of $243 million in the first three months of 2011, according to documents it submitted to the Securities and Exchange Commission.