NEW YORK (TheStreet) -- Zynga (ZNGA) shares are up 7.66% to $2.35 in after-hours trading on Thursday following the release of the company's third quarter earnings results after the closing bell today.
The social video game company reported a third quarter net loss of $57.1 million, or a net loss of 1 cents per diluted share excluding certain items, which is in line with what analysts were expecting from the company during the quarter.
The company also reported revenue of $176.6 million, short of the $202.6 million it reported during the same period last year and ahead of the $167.7 million analysts were expecting the company to generate.
TheStreet Ratings team rates ZYNGA INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ZYNGA INC (ZNGA) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: