Two newly traded tech companies, Zynga and Facebook, both reported quarterly earnings that disappointed investors. Others will be reporting in the coming weeks.
Here's a look at earnings reports from some tech companies that had IPOs since last year. The companies are all loosely Internet-related, though their businesses vary widely.
? July 25: Zynga Inc. says it lost money and received less revenue than anticipated in the second quarter because "CityVille," ''FarmVille" and other games are not attracting as many paying players as they should. Its stock tanked and dragged Facebook's shares as well because the social networking icon relies on Zynga for a good chunk of its revenue ? 12 percent last year. Revenue fell below Wall Street forecast, while expenses grew. The company says the number of players increased only because it got more players from its acquisition of OMGPop, the maker of the mobile game "Draw Something." Zynga began trading on Dec. 16, 2011.
Angie's List Inc. reports that its losses are still piling up as the company spends more to lure people to its online business-review service and persuade them to pay to see ratings on everything from plastic surgeons to sewer cleaners. Angie's List began trading on Nov. 17, 2011.
? July 26: Facebook Inc. says revenue grew 32 percent to $1.18 billion in the second quarter, slightly above analyst expectations. It had a net loss of 8 cents per share, mainly due to stock compensation expenses following its IPO. Adjusted earnings of 12 cents per share matched Wall Street's expectations. Investors weren't impressed and after a brief spike, Facebook's stock tumbled. It was Facebook's first quarterly earnings report since public trading began on May 18, 2012. Facebook now has 955 million users, up about 50 million during the quarter.
Coming up:
? Wednesday: Yelp Inc. (first day of trading on March 2, 2012)
? Thursday: LinkedIn Corp. (first day of trading on May 19, 2011)
? Aug. 7: Jive Software Inc. (first day of trading on Dec. 13, 2011)
? Aug. 13: Groupon Inc. (first day of trading on Nov. 4, 2011)
Source: http://news.yahoo.com/look-tech-companies-recent-ipos-214354594.html
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