Richard Greenfield, an analyst who covers Zynga, downgraded the maker of social games and apologised for overestimating earnings after the company reported revenue and profit that missed projections.
In a note titled “We Are Sorry and Embarrassed by Our Mistake,” the BTIG LLC analyst downgraded Zynga to neutral from buy after the company showed it’s making less money from individual users than he expected, Bloomberg.com’s Tech Blog reported.
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