OTCMAGIC Initiates Coverage of Zynga Inc. (NASDAQ: ZNGA)

ZNGA is up after announcing 3rd qaurter revenues.

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Zynga Inc. (NASDAQ: ZNGA) the leading social game developer responsible for such favorites as FarmVille, FrontierVille and Mafia Wars reported 3rd quarter revenues of $52 million as compared to a net income of $12 million during same period last year slightly beating expectations.

On the business side monthly unique visitors increased from 54 million to 60 million, showing a 10% increase year over year however there was a 28% decline in monthly payers an alarming trend for Zynga which is beginning to face stiff competition from mobile apps.

OTCMagic.com has published a new article on ZNGA that looks at where the stock is now and where it is going in the coming weeks. To read the article please go here: ZNGA

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