Social game developer Zynga (ZNGA) has posted first quarter bookings of $425 million, easily beating the consensus estimate of $407 million, and guidance of $400 million.“Q1 represented the best first quarter revenue and bookings performance in the company’s history, benefitting from broad-based live services strength throughout the quarter” comments Wedbush analyst Michael Pachter. He reiterated his Zynga buy rating on May 7 with a $9.25 price target (16% upside potential).In particular, Empires & Puzzles and the company’s Social Slots portfolio both experienced record revenue and bookings quarters, with Empires & Puzzles, Merge Magic!, Game of Thrones Slots Casino, and Merge …read more
Source:: Yahoo Finance
