EmailZynga (ZNGA $2.43 +0.30) reported third quarter net of breakeven, excluding non-recurring items, $0.01 better than the Capital IQ consensus of ($0.01), while revenues rose 3.2% year/year to $316.6 million versus the $307.53 mln consensus. Q3 Bookings of $256 million, down 11% year-over-year, nine months year-to-date bookings of $886 million, up 4% year-over-year. Daily active users (DAUs) increased from 54 million in the third quarter of 2011 to 60 million in the third quarter of 2012, up 10% year-over-year. Zynga announced that its Board of Directors has authorized a share repurchase program. Under the program, Zynga is authorized to repurchase up to $200 million of its outstanding Class A common stock. The timing and amount of any share repurchases will be determined based on market conditions, share price and other factors. T
he company issued downside guidance for fiscal year 2012 with EPS of $0.02-0.03, excluding non-recurring items, versus the $0.04 Capital IQ Consensus Estimate. Bookings are projected to be in the range of $1.09 billion to $1.1 billion. The company previously guided Q3 to revenue in the range of $300-$305 million and bookings in the range of $250-255 million for the third quarter ended September 30, 2012. Zynga expected to report a net loss of between $90 million and $105 million, non-GAAP net loss between $2 million and $5 million and adjusted EBITDA between $10 million and $15 million for the third quarter. In addition, Zynga expected to report diluted EPS between ($0.12) and ($0.14) and non-GAAP EPS between $0.00 and ($0.01) for the third quarter.
