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Zynga, Maker of FarmVille, Reports Sluggish Second Quarter - NYTimes.com


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It was a somewhat contentious conference call. One analyst, Richard Greenfield of BTIG, brought up to Mark Pincus, Zynga’s chief executive, that he had sold stock at $12 a share shortly after the public offering. Mr. Pincus did not directly respond beyond saying “we believe in the opportunity for social gaming and play to be a mass-market activity, as it is already becoming.”

After the call, Mr. Greenfield downgraded Zynga’s stock to neutral from buy in a report titled, “We are sorry and embarrassed by our mistake.”

In an interview, Mr. Greenfield said: “Right now, everything is going wrong for Zynga. In a rapidly changing Internet landscape that is moving to mobile, it’s very hard to have confidence these issues are temporary.”

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