Zynga (NASDAQ:) was trading down in after-hours trading Tuesday after it posted a quarterly loss but beat Wall Street expectations.
In the online gaming company’s first report as a public company, it posted a net loss of $435 million, or $1.22 per share. However, adjusted earnings per share were 5 cents, beating estimates of 3 cents. Revenue was up 59% to $311 million, and bookings were up 26% to $306 million. Still, ZNGA shares were down almost 5% soon after the bell.
In other IPO earnings news, global fashion brand Michael Kors (NYSE:) jumped about 28% after its first earnings report as a publicly trading company was a screaming success. The company’s revenues were up 68% on same-store sales increases of 38% and 34% in North America and Europe, respectively. Earnings of 28 cents per share were up 40% from a year ago and far ahead of analyst expectations for 9 cents.
Also, Zipcar (NASDAQ:), which went public last April, lost 14% despite a strong earnings report. The company’s revenue was up 21% to $63 million, and earnings were up to 9 cents per share, reversing a loss of 17 cents the year before and topping estimates of a break-even quarter. However, concerns about European growth sent the stock lower.
Yahoo (NASDAQ:
) shares dropped about 4.7% after reports out Tuesday said the company’s talks about selling its Asian assets, Allibaba Group Holding Ltd. and Yahoo Japan, had stalled. The main hangup, , is the tax-efficiency of the deal.
Three Up
- LivePerson (NASDAQ:): Up 18.8% ($2.37) to $14.96.
- Fossil (NASDAQ:): Up 14.7% ($15.32) to $119.82.
- Rackspace Hosting (NYSE:): Up 12.6% ($6.22) to $55.45.
Three Down
- Masco (NYSE:): Down 12.1% ($1.60) to $11.63.
- MEMC Electronic Materials (NYSE:): Down 10.8% (57 cents) to $4.72.
- Goodyear Tire & Rubber (NYSE:): Down 5.2% (72 cents) to $13.25.
Kyle Woodley is the assistant editor of InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here.
