Zynga and Yelp released their latest quarterly earnings reports after closing bell tonight. Zynga reported GAAP revenues of $190.5 million, which beat the high end of management’s guidance range.
Yelp reported non-GAAP earnings of 27 cents per share on $194.8 million in net revenues, compared to the consensus estimates of 3 cents per share and $194.5 million in revenue. In the year-ago quarter, the company reported 11 cents per share in non-GAAP earnings.
Zynga produces mixed results
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Zynga’s GAAP net loss improved 31% year over year to $162.4 million, although that was below the guidance range. Deferred revenues rose $11 million to surpass guidance by $6 million. Bookings also beat management’s guidance coming in at $201.5 million for an 11% year over year increase. Adjusted EBITDA missed guidance, coming in at $10.6 million. Management blamed the miss on platform fees due to higher revenue deferrals.
Zynga’s mobile revenues grew 20% to $154.7 million, making up 81% of total revenues. Mobile bookings amounted to 83% of total bookings or $167.1 million. Average mobile daily users grew 5% to 16 million. Ad and other revenues fell 11% year over year to $50.4 million.
For the current quarter, Zynga expects GAAP revenue of about $185 million and a GAAP net loss of $16 million. The game maker looks for a $5 million increase in deferred revenue, $190 million in bookings, and $14 million in adjusted EBITDA.
Shares of Zynga edged lower in after-hours trades, falling by as much as 0.79% to $2.50.
Yelp swings to profit
Yelp’s GAAP earnings rose to 10 cents per share from losses of 29 cents per share in the year-ago quarter. Adjusted EBITDA rose to $45.3 million from $17.5 million in the same quarter a year ago. Local revenues rose 36% to $171.1 million, while transactions revenues jumped 19% year over year to $16.6 million.
Cumulative reviews rose 27% year over year to about 11 million, while app unique devices increased 20% to a monthly average of about 24 million. Yelp grew the number of local ad accounts 24% year over year to about 138,000.
For the current quarter, the company expects $195 million to $199 million in net revenue and adjusted EBITDA of $25 million to $28 million. It expects $880 million to $900 million in revenue and $150 million to $165 million in adjusted EBITDA for the full year.
Shares of Yelp plunged by as much as 7.88% to $38.22 in after-hours trades.