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Profit downfall tanks Zynga
INVESTORS in Farmville-developer Zynga cashed out last night, after the firm missed expectations with a 34 per cent drop in revenue to $153.2m (£91m) during the quarter ending 30 June.
The company’s stock fell by as much as 14 per cent during after-hours trading in New York.
Zynga’s losses widened to $62.5m as the group has lost prominence as more and more casual gaming has moved from Facebook to smartphones.