The problems with Zynga (ZYNGA) have long been known, but the company is starting to turn the ship around.
The San Francisco-based social gaming company recently turned a profit, earning 1 cent a share on $311.1 million in revenue. Daily active users (DAUs) climbed 12% year-over-year, and Zynga is still fairly cheap, when you strip out the $1.65 billion in cash and the huge San Francisco headquarters, which it owns. Having been to San Francisco a number of times over the past year, that real estate is not cheap, and it's in a prime location, 650 Townsend Street.At a market cap of $2.77 billion, despite the recent run up in anticipation of online gambling, perhaps it could make sense for Mayer and her team to think about adding this "dog" to its portfolio. Shares of Zynga have jumped 50.2% year-to-date.
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