Zynga Inc (NASDAQ:ZNGA) focuses on Internet live services, social networking sites and platform of mobiles
Shares of Zynga Inc (NASDAQ:ZNGA) increased to close at $3.43 in trading session of Friday, July 5. This closing figure demonstrates ascend of 0.29%. After opening at $3.48, the stock reached an intraday high of $3.50. Almost 36.67 million shares were traded in the trading session of Friday which is quite higher than the average volume of 24.14 million shares in last 90 trading sessions.
Zynga Inc (NASDAQ:ZNGA), is a service provider for social game. Its active users on monthly average are around 240 million and cover a range of more than 175 countries. The company focuses on development, marketing and operating social games online such as Internet live services as well as sites for social networking and platform of mobiles.
With the growing attractiveness of tablets and smartphones, especially since last two years, it has become imperative that Zynga Inc (NASDAQ:ZNGA) takes measures and puts efforts towards adjusting with the progressive ways with which the users are employing their gadgets. The company has to compete by providing a unique experience in an application through efficient and effective integration sharing socially.
Zynga Inc (NASDAQ:ZNGA), in the previous quarter, informed year-on-year turn downs of 20% and 13% pertaining to active users for daily and monthly respectively. The entirety of income fell down 18% and the income came down 81%. To add to the distress, the company affected laying off of almost 20% of its employees and consequently closed the studios in New York, Los Angeles and Dallas.
With Zynga Inc (NASDAQ:ZNGA) showing a fall of almost 40% in the last twelve months, Mark Pincus, announced the handing over of the post of CEO to Don Mattrick. Head of Microsoft’s Xbox division. The proclamation appeared to have been welcomed by the investors due to the reputation that Don Mattrick holds of being able to turn the business of Xbox into profit making unit even after it incurred losses for several years.