The stock of FarmVille developer Zynga, which opened offices in Timonium in fall 2009, plunged to $3.18 a share last week thanks to some sickly second-quarter financial results, reports the New York Times.
Revenue for the second quarter was $332 million, below analysts’ expectations of $343 million. And the company lost $22.8 million, or 3 cents a share in the quarter, although excluding one-time items it had a profit of 1 cent a share — still below expectations.
But the real problem was that Zynga slashed the forecast for its bookings — revenue less fees it pays Facebook — to as low as $1.15 billion for 2012, from $1.47 billion. [more]
The stock of the San Francisco-based Zynga closed at $3.01 a share Monday. Perhaps known best for Facebook games FarmVille and Mafia Wars, Zynga keep its East Coast offices in Baltimore County, where about 35 of the company’s roughly 1,300 employees work. It was at the Timonium office where FrontierVille (now The Pioneer Trail) was developed prior to its June 2010 launch.
In 2011, Baltimore magazine named Zynga one of its best places to work, citing “quarterly bonuses, free gym membership, free catered lunch daily, [and] four weeks vacation to start” as some of Zynga’s better benefits.-30-