While most folks in tech and finance were focused on Groupon’s much-buzzed-about stock market debut, Zynga on Friday morning issued an update to its S-1 filing for an initial public offering.
The document does not seem to contain any ground-shaking news from the San Francisco-based social gaming company, just more recent financial information. Zynga says it took in $ 306.8 million in revenue for the third quarter which ended September 30, representing 9.9 percent growth over the previous quarter. The company turned a solid profit during the third quarter, with $ 12.54 million in net income.
Of course, growth of any kind is always good, but the filing also reveals that Zynga’s growth rate has slowed as the months have gone on. In the second quarter of 2011 the company saw 14.9 percent quarter-over-quarter revenue growth; in the quarter before that, the growth rate was 24.1 percent. It makes sense, though, that as revenue grows, keeping those growth percentages up is increasingly difficult — and nearly 10 percent quarter-over-quarter growth is certainly nothing to be ashamed of.
Zynga will go public on the Nasdaq stock market under the ticker symbol “ZNGA”. The company expects to raise up to $ 1 billion in its IPO.
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