Zynga Tweaks Accounting Method in New SEC Filing
Revenue was boosted by $27.3 million
In preparation for its upcoming IPO, social gaming company Zynga submitted its third amended regulatory filing, revealing that it had “tweaked” an accounting method to boost revenue by $27.3 million.
According to the New York Post, the amended S-1 filing allowed Zynga to avoid claiming a second-quarter loss. By shortening the estimated average life of its virtual goods from 14 months to 11 months, Zynga’s revenue for the first half of the year rose past $500 million, putting it on the $1 billion track for the year.
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