Last week, Zynga Inc just announced its quarterly earnings report and is now playing along its new highs. For the quarter, the gaming giant announced ($0.01) EPS, meeting analysts’ expectations of $0.01 as well. However, Zynga had an undesirable net margin of 14.59% and an awkward return on equity of 5.96%.
Also for the quarter, the online gaming company had revenue of $194.30 million, beating analyst guesstimates of $188.14 million. The firm’s quarterly revenue added 4.1% which was considerably greater than the amount generated last year.
As for its trading performance, Zynga has managed to pull its performance further up to its new highs, labeling the company as an overbought stock as its Relative Strength Index was found beyond the 70’s region – and is currently on 76.36.
Coppock Curve was also found up high at the 30’s region and was exactly at 32.74 - a very high positive region which would indicate a strong buy for the gaming stock.
In May 5, the gaming stock had a massive leap from 2.84 to 3.20 and went further up around the 3’s region. In the current week, Zynga opened with a recovering bull candle which opened at 3.31 and closed at 3.39 with a high of 3.43 and a low of 3.30. It is expected that it still may continue its bullish trend as all indicators signaled strong performances that can potentially up the stock further.
Expanding the Social Mobile Industry
On a recent announcement, Zynga declared that it has presented “a substantial gift” to the University of Southern California with the goal of funding the social mobile game design academe for three years. Additionally, it will feature talks, events and other promotional campaign in the mobile gaming industry to further add to the quality of education presented to the students.
The announcement was revealed by both of the CEO of Zynga, Frank Gibeau and Chair of the USC School of Cinematic Arts' Interactive Media & Games Division and Director of USC Games, Tracy Fullerton and is goaled to “create social mobile games using Zynga’s design methodology.” The plan is set to execute at the 2017 class in autumn until 2020.
The amount is yet to be revealed but so far is left unannounced.
"We're proud to partner with the USC School of Cinematic Arts to invest in the next generation of social game developers," Gibeau told reports. "We're continually impressed with the USC faculty and inspired by our interactions with students across the campus. USC has always taken a cutting-edge approach to advancing the intersection of entertainment and business innovation, and we're thrilled to share our unique view on how to blend art and science disciplines in social mobile gaming.”
“As proud alumni, it's also rewarding to see a diverse mix of Zynga employees return to USC to share their skills and perspectives on new tech frontiers and career opportunities in gaming." Gibeau added.
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