Zynga’s results shake up Facebook

The fortunes of Facebook and Zynga are entangled together. Facebook Inc (NASDAQ:FB) provides over 90 percent of Zynga’s revenues while Zynga accounts for 15 percent of Facebook’s.

Zynga Inc (NASDAQ:ZNGA) reported a disastrous quarter in which revenues at $332 million belied expectations of $343 million. Earnings, excluding items were 1 cent a share compared to expectations of 6 cents a share. As if this was not enough Zynga went ahead and cut its estimate of bookings, or sales of virtual goods, from the range of $1.43...