ZNGA - Zynga misses bookings expectations grows daily users 3%

Zynga (NASDAQ:ZNGA) - on its way to an acquisition by Take-Two Interactive Software (NASDAQ:TTWO) - fell short of bookings expectations in its first-quarter earnings despite pointing to some advertising success. Bookings fell to $695 million from $720 million a year ago, falling short of consensus for $730.1 million. And as-reported net income worsened slightly, to -$25 million from a year-ago -$23 million. Adjusted EBITDA, though, grew to $144 million from $123 million. The company also achieved record Q1 advertising revenue and bookings led by the hyper-casual portfolio. "Through continued execution across all aspects of our multi-year growth strategy including live services, new game development and investments in our advertising platform, new markets and technologies, we are strengthening our position as a leading mobile-first, free-to-play live services company," says CEO Frank Gibeau. Average mobile daily active users ticked up 3% to 40 million, and average mobile monthly active users grew 27%,

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Zynga misses bookings expectations, grows daily users 3%