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Icahn Enterprises L.P. Reports Third Quarter 2015 Financial Results

NEW YORK, Nov. 5, 2015 (GLOBE NEWSWIRE) -- Icahn Enterprises L.P. (NASDAQ:IEP) is reporting third quarter 2015 revenues of $3.2 billion and net loss attributable to Icahn Enterprises of $440 million, or a loss of $3.40 per depositary unit. For the third quarter 2014, revenues were $4.4 billion and net loss attributable to Icahn Enterprises was $355 million, or a loss of $2.90 per depositary unit. Adjusted EBITDA attributable to Icahn Enterprises was a loss of $32 million for the third quarter 2015 compared to a loss of $2 million for the third quarter 2014. Adjusted EBIT attributable to Icahn Enterprises was a loss of $187 million for the third quarter 2015 compared to a loss of $152 million for the third quarter 2014. For the nine months ended September 30, 2015, revenues were $12.7 billion and adjusted net loss attributable to Icahn Enterprises, after adding back the loss on extinguishment of debt, was $66 million, or a loss of $0.52 per depositary unit. For the nine months ended September 30, 2014, revenues were $15.8 billion and adjusted net income attributable to Icahn Enterprises, after adding back the loss on extinguishment of debt, was $257 million, or $2.14 per depositary unit. For the nine months ended September 30, 2015, net loss attributable to Icahn Enterprises was $67 million, or a loss of $0.53 per depositary unit, as compared to net income attributable to Icahn Enterprises of $105 million, or $0.87 per depositary unit for the nine months ended September 30, 2014. Adjusted EBITDA attributable to Icahn Enterprises was $1.2 billion for each of the nine months ended September 30, 2015 and 2014. Adjusted EBIT attributable to Icahn Enterprises was $708 million for the nine months ended September 30, 2015 compared to $811 million for the nine months ended September 30, 2014. On October 30, 2015, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $1.50 per depositary unit. The quarterly distribution is payable in either cash or additional depositary units, at the election of each depositary unit holder and will be paid on or about December 24, 2015 to depositary unit holders of record at the close of business on November 16, 2015. Icahn Enterprises L.P. (NASDAQ:IEP), a master limited partnership, is a diversified holding company engaged in ten primary business segments: Investment, Automotive, Energy, Metals, Railcar, Gaming, Mining, Food Packaging, Real Estate and Home Fashion. Caution Concerning Forward-Looking Statements Results for any interim period are not necessarily indicative of results for any full fiscal period. This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of Icahn Enterprises L.P. and its subsidiaries. Among these risks and uncertainties are risks related to economic downturns, substantial competition and rising operating costs; risks related to our investment activities, including the nature of the investments made by the private funds in which we invest, losses in the private funds and loss of key employees; risks related to our automotive activities, including exposure to adverse conditions in the automotive industry, and risks related to operations in foreign countries; risks related to our energy business, including the volatility and availability of crude oil, other feed stocks and refined products, unfavorable refining margin (crack spread), interrupted access to pipelines, significant fluctuations in nitrogen fertilizer demand in the agricultural industry and seasonality of results; risk related to our gaming operations, including reductions in discretionary spending due to a downturn in the local, regional or national economy, intense competition in the gaming industry from present and emerging internet online markets and extensive regulation; risks related to our railcar activities, including reliance upon a small number of customers that represent a large percentage of revenues and backlog, the health of and prospects for the overall railcar industry and the cyclical nature of the railcar manufacturing business; risks related to our food packaging activities, including competition from better capitalized competitors, inability of its suppliers to timely deliver raw materials, and the failure to effectively respond to industry changes in casings technology; risks related to our scrap metals activities, including potential environmental exposure; risks related to our real estate activities, including the extent of any tenant bankruptcies and insolvencies; risks related to our home fashion operations, including changes in the availability and price of raw materials, and changes in transportation costs and delivery times; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission. Past performance in our Investment segment is not necessarily indicative of future performance. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per unit amounts)(Unaudited) Three Months Ended September 30, Nine Months EndedSeptember 30, 2015 2014 2015 2014 Revenues: Net sales $3,720 $4,557 $11,264 $14,090 Other revenues from operations 366 350 1,042 934 Net (loss) gain from investment activities (947) (592) 236 509 Interest and dividend income 36 62 136 165 Other income, net 37 45 29 93 3,212 4,422 12,707 15,791 Expenses: Cost of goods sold 3,224 4,218 9,673 12,687 Other expenses from operations 168 166 484 458 Selling, general and administrative 418 431 1,423 1,247 Restructuring 18 23 57 61 Impairment 6 4 10 6 Interest expense 296 226 853 593 4,130 5,068 12,500 15,052 (Loss) income before income tax (expense) benefit (918) (646) 207 739 Income tax (expense) benefit (22) 19 (184) (166) Net (loss) income (940) (627) 23 573 Less: net loss (income) attributable to non-controlling interests 500 272 (90) (468) Net (loss) income attributable to Icahn Enterprises $(440) $(355) $(67) $105 Net (loss) income attributable to Icahn Enterprises allocable to: Limited partners $(432) $(348) $(66) $103 General partner (8) (7) (1) 2 $(440) $(355) $(67) $105 Basic and diluted (loss) income per LP unit $(3.40) $(2.90) $(0.53) $0.87 Basic and diluted weighted average LP units outstanding 127 120 125 118 Cash distributions declared per LP unit $1.50 $1.50 $4.50 $4.50 CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) September 30, December 31, 2015 2014 ASSETS (Unaudited) Cash and cash equivalents $2,041 $2,912 Cash held at consolidated affiliated partnerships and restricted cash 1,441 1,435 Investments 13,661 14,500 Accounts receivable, net 1,876 1,691 Inventories, net 2,318 1,879 Property, plant and equipment, net 9,831 8,955 Goodwill 2,075 2,000 Intangible assets, net 1,132 1,088 Other assets 2,077 1,320 Total Assets $36,452 $35,780 LIABILITIES AND EQUITY Accounts payable $1,536 $1,387 Accrued expenses and other liabilities 2,057 2,235 Deferred tax liability 1,338 1,255 Securities sold, not yet purchased, at fair value 1,237 337 Due to brokers 4,504 5,197 Post-employment benefit liability 1,312 1,391 Debt 12,182 11,588 Total liabilities 24,166 23,390 Equity: Limited partners 5,375 5,672 General partner (235) (229) Equity attributable to Icahn Enterprises 5,140 5,443 Equity attributable to non-controlling interests 7,146 6,947 Total equity 12,286 12,390 Total Liabilities and Equity $36,452 $35,780 Use of Non-GAAP Financial Measures The Company uses certain non-GAAP financial measures in evaluating its performance. These include non-GAAP EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT. EBITDA represents earnings before interest expense, income tax (benefit) expense and depreciation and amortization. EBIT represents earnings before interest expense and income tax (benefit) expense. We define Adjusted EBITDA and Adjusted EBIT as EBITDA and EBIT, respectively, excluding the effects of impairment, restructuring costs, certain pension plan expenses, OPEB curtailment gains, purchase accounting inventory adjustments, certain share-based compensation, discontinued operations, gains/losses on extinguishment of debt, major scheduled turnaround expenses, FIFO adjustments and unrealized gains/losses on energy segment derivatives and certain other non-operational charges. We present EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT on a consolidated basis and attributable to Icahn Enterprises net of the effect of non-controlling interests. We conduct substantially all of our operations through subsidiaries. The operating results of our subsidiaries may not be sufficient to make distributions to us. In addition, our subsidiaries are not obligated to make funds available to us for payment of our indebtedness, payment of distributions on our depositary units or otherwise, and distributions and intercompany transfers from our subsidiaries to us may be restricted by applicable law or covenants contained in debt agreements and other agreements to which these subsidiaries currently may be subject or into which they may enter into in the future. The terms of any borrowings of our subsidiaries or other entities in which we own equity may restrict dividends, distributions or loans to us. We believe that providing EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT to investors has economic substance as these measures provide important supplemental information of our performance to investors and permits investors and management to evaluate the core operating performance of our business without regard to interest, taxes and depreciation and amortization and the effects of impairment, restructuring costs, certain pension plan expenses, OPEB curtailment gains, purchase accounting inventory adjustments, certain share-based compensation, discontinued operations, gains/losses on extinguishment of debt, major scheduled turnaround expenses, FIFO adjustments and unrealized gains/losses on energy segment derivatives and certain other non-operational charges. Additionally, we believe this information is frequently used by securities analysts, investors and other interested parties in the evaluation of companies that have issued debt. Management uses, and believes that investors benefit from referring to these non-GAAP financial measures in assessing our operating results, as well as in planning, forecasting and analyzing future periods. Adjusting earnings for these charges allows investors to evaluate our performance from period to period, as well as our peers, without the effects of certain items that may vary depending on accounting methods and the book value of assets. Additionally, EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT present meaningful measures of performance exclusive of our capital structure and the method by which assets were acquired and financed. EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT have limitations as analytical tools, and you should not consider them in isolation, or as substitutes for analysis of our results as reported under generally accepted accounting principles in the United States, or U.S. GAAP. For example, EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT: do not reflect our cash expenditures, or future requirements for capital expenditures, or contractual commitments; do not reflect changes in, or cash requirements for, our working capital needs; and do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments on our debt. Although depreciation and amortization are non-cash charges, the assets being depreciated or amortized often will have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. Other companies in the industries in which we operate may calculate EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT differently than we do, limiting their usefulness as comparative measures. In addition, EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT do not reflect the impact of earnings or charges resulting from matters we consider not to be indicative of our ongoing operations. EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT are not measurements of our financial performance under U.S. GAAP and should not be considered as alternatives to net income or any other performance measures derived in accordance with U.S. GAAP or as alternatives to cash flow from operating activities as a measure of our liquidity. Given these limitations, we rely primarily on our U.S. GAAP results and use EBITDA, Adjusted EBITDA, EBIT and Adjusted EBIT only as a supplemental measure of our financial performance. Use of Indicative Net Asset Value Data The Company uses indicative net asset value as an additional method for considering the value of the Company's assets, and we believe that this information can be helpful to investors. Please note, however, that the indicative net asset value does not represent the market price at which the units trade. Accordingly, data regarding indicative net asset value is of limited use and should not be considered in isolation. The Company's depositary units are not redeemable, which means that investors have no right or ability to obtain from the Company the indicative net asset value of units that they own. Units may be bought and sold on The NASDAQ Global Select Market at prevailing market prices. Those prices may be higher or lower than the indicative net asset value of the units as calculated by management. See below for more information on how we calculate the Company's indicative net asset value. ($ in millions) September 30, December 31, 2015 2014 Market-valued Subsidiaries: (unaudited) Holding Company interest in Funds (1) $4,168 $4,284 CVR Energy (2) 2,923 2,756 CVR Refining - direct holding (2) 115 101 Federal-Mogul (2) 947 1,949 American Railcar Industries (2) 429 611 Total market-valued subsidiaries $8,581 $9,701 Other Subsidiaries: Tropicana (3) $739 $497 Viskase (3) 206 246 Real Estate Holdings (1) 658 693 PSC Metals (1) 222 250 WestPoint Home (1) 177 180 ARL (4) 979 944 Ferrous Resources (1) 234 — IEH Auto (1) 330 — Total - other subsidiaries $3,546 $2,810 Add: Holding Company cash and cash equivalents (5) 182 1,123 Less: Holding Company debt (5) (5,489) (5,486) Add: Other Holding Company net assets (5) 261 237 Indicative Net Asset Value $7,081 $8,385 Indicative net asset value does not purport to reflect a valuation of IEP. The calculated Indicative net asset value does not include any value for our Investment Segment other than the fair market value of our investment in the Investment Funds. A valuation is a subjective exercise and Indicative net asset value does not necessarily consider all elements or consider in the adequate proportion the elements that could affect the valuation of IEP. Investors may reasonably differ on what such elements are and their impact on IEP. No representation or assurance, express or implied is made as to the accuracy and correctness of indicative net asset value as of these dates or with respect to any future indicative or prospective results which may vary. (1) Represents equity attributable to us as of each respective date. (2) Based on closing share price on each date and the number of shares owned by the Holding Company as of each respective date. (3) Amounts based on market comparables due to lack of material trading volume. Tropicana valued at 8.5x Adjusted EBITDA for the twelve months ended September 30, 2015 and 7.5x Adjusted EBITDA for the twelve months ended December 31, 2014. Viskase valued at 9.0x Adjusted EBITDA for the twelve months ended September 30, 2015 and December 31, 2014. (4) ARL value assumes the present value of projected cash flows from leased railcars plus working capital. (5) Holding Company's balance as of each respective date. ($ in millions) Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Consolidated Adjusted EBITDA: (Unaudited) Net (loss) income $(940) $(627) $23 $573 Interest expense, net 292 222 842 582 Income tax expense 22 (19) 184 166 Depreciation and amortization 217 202 630 584 Consolidated EBITDA $(409) $(222) $1,679 $1,905 Impairment of assets 6 4 10 6 Restructuring costs 18 23 57 61 Non-Service cost US based pensions — (3) 1 (6) FIFO impact unfavorable (favorable) 46 52 35 6 Major scheduled turnaround expense 22 6 24 6 Unrealized loss/(gain) on certain derivatives (11) 12 18 (78) Certain share-based compensation expense 3 — 8 11 Net loss on extinguishment of debt — — 2 162 Other 3 13 (29) (21) Consolidated Adjusted EBITDA $(322) $(115) $1,805 $2,052 IEP Adjusted EBITDA: Net (loss) income attributable to IEP $(440) $(355) $(67) $105 Interest expense, net 192 161 563 438 Income tax expense 9 (31) 133 114 Depreciation and amortization 155 150 456 429 EBITDA attributable to IEP $(84) $(75) $1,085 $1,086 Impairment of assets 5 4 8 6 Restructuring costs 15 19 47 50 Non-Service cost US based pensions (1) (2) — (4) FIFO impact unfavorable (favorable) 27 33 20 4 Major scheduled turnaround expense 12 4 13 4 Unrealized loss/(gain) on certain derivatives (6) 7 11 (49) Certain share-based compensation expense 3 (1) 7 10 Net loss on extinguishment of debt — — 1 152 Other (3) 9 (28) (19) Adjusted EBITDA attributable to IEP $(32) $(2) $1,164 $1,240 ($ in millions) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2015 2014 2015 2014 Consolidated Adjusted EBIT: (Unaudited) Net (loss) income $(940) $(627) $23 $573 Interest expense, net 292 222 842 582 Income tax expense 22 (19) 184 166 Consolidated EBIT $(626) $(424) $1,049 $1,321 Impairment of assets 6 4 10 6 Restructuring costs 18 23 57 61 Non-Service cost US based pensions — (3) 1 (6) FIFO impact unfavorable (favorable) 46 52 35 6 Major scheduled turnaround expense 22 6 24 6 Unrealized loss/(gain) on certain derivatives (11) 12 18 (78) Certain share-based compensation expense 3 — 8 11 Net loss on extinguishment of debt — — 2 162 Other 3 13 (29) (21) Consolidated Adjusted EBIT $(539) $(317) $1,175 $1,468 IEP Adjusted EBITDA: Net (loss) income attributable to IEP $(440) $(355) $(67) $105 Interest expense, net 192 161 563 438 Income tax expense 9 (31) 133 114 EBITDA attributable to IEP $(239) $(225) $629 $657 Impairment of assets 5 4 8 6 Restructuring costs 15 19 47 50 Non-Service cost US based pensions (1) (2) — (4) FIFO impact unfavorable (favorable) 27 33 20 4 Major scheduled turnaround expense 12 4 13 4 Unrealized loss/(gain) on certain derivatives (6) 7 11 (49) Certain share-based compensation expense 3 (1) 7 10 Net loss on extinguishment of debt — — 1 152 Other (3) 9 (28) (19) Adjusted EBITDA attributable to IEP $(187) $(152) $708 $811 ($ in millions, except per unit amounts) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2015 2014 2015 2014 (Unaudited) Adjusted Diluted (Loss) Income per LP Unit: Net (loss) income attributable to Icahn Enterprises $(440) $(355) $(67) $105 Net loss on extinguishment of debt attributable to Icahn Enterprises — — 1 152 Adjusted net (loss) income attributable to Icahn Enterprises $(440) $(355) $(66) $257 Diluted (loss) income per LP unit $(3.40) $(2.90) $(0.53) $0.87 Net loss on extinguishment of debt attributable to Icahn Enterprises — — 0.01 1.27 Adjusted diluted (loss) income per LP unit $(3.40) $(2.90) $(0.52) $2.14 CONTACT: Investor Contacts: SungHwan Cho, Chief Financial Officer Peter Reck, Chief Accounting Officer (212) 702-4300

Zynga Announces Third Quarter 2015 Financial Results

DELIVERS $176M IN BOOKINGS AND $12M IN ADJUSTED EBITDA ANNOUNCES $200M SHARE REPURCHASE PROGRAM MOVES LAUNCHES OF DAWN OF TITANS AND CSR2 INTO 2016 ANNOUNCES RESIGNATION OF CFO DAVID LEE & INTERIM CFO APPOINTMENT OF CAO MICHELLE QUEJADO SAN FRANCISCO, Nov. 03, 2015 (GLOBE NEWSWIRE) -- Zynga Inc. (NASDAQ:ZNGA), a leading social game developer, today announced financial results for the third quarter ended September 30, 2015. In addition to today’s press release, a copy of our Q3 2015 Quarterly Earnings Letter, which outlines our Q3 2015 financial results and business outlook, is available on our website at http://investor.zynga.com. Zynga management will host a live Q&A session at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today, November 3, to discuss the Company's Q3 performance and business outlook. Questions may be asked on the call or submitted in advance via email to [email protected], and the company will respond to as many questions as possible. “Our teams delivered a strong Q3 driven by the performance by Wizard of Oz Slots, Words With Friends and our newly launched Empires & Allies. We generated $176 million in total bookings and $12 million in Adjusted EBITDA, well above the top end of our guidance range. This growth was driven by our three core mobile franchises Slots, Words With Friends and Poker, which grew 61% year-over-year. These results reflect the progress we continue to make in mobile where bookings have grown 26% versus the prior year and now make up 69% of our total bookings, up from 66% in Q2. We also continue to improve monetization and in Q3, we saw average bookings per user (ABPU) grow 27% year-over-year and 10% sequentially. Today, we also announced a $200 million stock buyback program. Given our belief in the social gaming opportunity, our talent and our IP, we believe this is in our shareholders’ interests,” said Mark Pincus, CEO and Founder. “Based on the opportunity we see for Dawn of Titans and CSR2 we have made the deliberate decision to invest in future development of these games and move their launches into 2016. As we get closer to our players behavior over time, we believe there are a few key areas that we can optimize to increase long-term player retention. For Dawn of Titans specifically, given how strong the early monetization is for the game, we believe that a move of 200 basis points in day 30 retention has the potential to make the game a breakout hit. We are able to make these hard decisions, because of the cost reduction program that we put in place earlier this year,” said Pincus. Financial Highlights Bookings of $176 million; above the high end of the guidance range, flat year-over-year and up 1% sequentially.Mobile bookings are $121 million or 69% of overall bookings, up 26% year-over-year and up 6% sequentially.Adjusted EBITDA of $12 million; above the high end of the guidance range.Advertising and other bookings up 39% year-over-year and 17% sequentially.Non-GAAP operating expenses decreased to $114 million, a 9% sequential decrease.$1.1 billion in cash, cash equivalents and marketable securities.Announcing $200 million share repurchase program.Product Updates Slots – Recently acquired Rising Tide Games and launched Black Diamond Casino worldwide. Princess Bride Slots to launch worldwide in Q4.Words With Friends – Grew bookings by 28% sequentially and 34% year-over-year despite audience decline.Empires & Allies – Overall performance has been below our expectations but monetization remains strong.Dawn of Titans – Launch moved into 2016; continue to see great potential with an average Apple App Store rating of 4.5 stars. Encouraging initial monetization; ABPU among the highest we’ve seen in a Zynga game. CSR2 – Launched moved to next year; entered into geo-lock testing in 7 markets with an average Apple App Store rating of 4.6 stars. Monetization has been promising during early, initial phases of testing.Announces Share Repurchase Program Today, the company announced that our Board of Directors authorized a share repurchase program of up to $200 million of our outstanding Class A common stock that remains in effect until October 2017. The timing and amount of any stock repurchases will be determined based on market conditions, share price and other factors. The program does not require us to repurchase any specific number of shares of our Class A common stock, and may be modified, suspended or terminated at any time without notice. The stock repurchase program will be funded from existing cash on hand. In connection with the share repurchase program, the Company may adopt one or more plans pursuant to the provisions of Rule 10b5-1 under the Securities Exchange Act of 1934. Share repurchases under these authorizations may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or by any combination of such methods. Repurchases of our Class A common stock in the open market could result in increased volatility in our stock price. Announces Resignation of CFO David Lee & Interim CFO Appointment of CAO Michelle Quejado Zynga announced today that its Chief Financial Officer David Lee is resigning as CFO effective immediately and departing the company on December 11, 2015. Zynga has initiated a search for a permanent CFO and until a new CFO is appointed, Michelle Quejado, Zynga’s Chief Accounting Officer, will serve as interim CFO effective immediately. Quejado will be working with Lee, as well as Zynga CEO Mark Pincus, over the next month to ensure a seamless transition of responsibilities. “I want to thank David for the leadership and commitment he has shown Zynga,” said Pincus. “Over the past six months, David and I have partnered on a number of key initiatives to strengthen the company’s long-term position. This has included our $100 million cost reduction program, our continued transition to mobile and, most recently, our $200 million stock buyback program. David will stay on until mid-December to manage the transition and work with our newly appointed interim CFO, Michelle Quejado, Zynga’s Chief Accounting Officer.” “I believe Zynga is in a much stronger position today than it was when I joined the company, and I want to thank Mark for his partnership. We’ve moved the majority of our business to mobile and are focused on growing our new IP and existing franchises, while significantly reducing our cost structure,” said David Lee. “I’m proud of what our teams have accomplished and know that they, along with our interim CFO Michelle Quejado, will continue to focus on delivering long-term value for our shareholders while executing against our mission to connect the world though games.” Quejado brings with her more than 25 years of experience, and has deep expertise in accounting, financial planning and analysis, and project and people management. She joined Zynga in March 2015 as Vice President of Finance and Corporate Controller, and in June was appointed as Zynga’s Chief Accounting Officer. Prior to joining Zynga, Quejado held various financial roles at Lam Research Corporation, a multinational semiconductor company, between 1999 and 2015, most recently serving as its Assistant Corporate Controller. Before joining Lam Research Corporation, Quejado was as an auditor for the United States Department of Defense from 1989 through 1998. Quejado is a Certified Public Accountant and holds a B.S. degree in Accounting from the University of Southern Oregon. Financial Highlights (in thousands, except per share data)Three Months EndedSeptember 30, 2015June 30, 2015September 30, 2014GAAP ResultsRevenue$ 195,737$ 199,918$ 176,611Net income (loss)$ 3,052$ (26,868)$ (57,058)Diluted net income (loss) per share$0.00 $(0.03)$(0.06)Non-GAAP ResultsBookings$ 175,979$ 174,462$ 175,488Adjusted EBITDA$ 12,415$ 963$ 2,163Non-GAAP net income (loss)$ 3,681$ (7,578)$ (6,681)Non-GAAP earnings (loss) per share$0.00 $ (0.01)$ (0.01)Player Metrics (users and payers in millions) The company tracks operating metrics using internal systems which rely on internal company data and third party data. We rely on the veracity of data provided by individuals and reported by third parties to calculate our metrics and reduce duplication of data. In the first quarter of 2015, the company modified its calculations to take into account our business's transition to mobile and updates to our operating metrics which utilize additional third party data to help us identify whether a player logged in under two or more accounts is the same individual. As a result of these changes, we revised the definitions for DAUs, MAUs, MUUs, and MUPs in the first quarter of 2015. In the third quarter of 2015, the company made a subsequent modification to its calculations of MUU to further reduce duplication of users of both web and mobile platforms and to correct an error in calculating the third quarter of 2014 MUU which resulted in MUU for that period to be understated by 0.3 million users. For comparative purposes, all of these key operating metrics have been revised for the third quarter of 2014 and MUU for the second quarter of 2015 to reflect the company’s current definitions and calculations for all periods presented. Please refer to our Quarterly Report on Form 10-Q for the quarters ended March 31, 2015 and June 30, 2015 and, when filed, our Quarterly report on Form 10-Q for the quarter ended September 30, 2015 (copies of which may be obtained by visiting our Investor Relations web site at http://investor.zynga.com or the SEC’s web site at www.sec.gov) for a full explanation of the changes and the comparison of the revised and as reported numbers for 2014 and 2015. Three Months EndedSeptember 30, 2015June 30, 2015September 30, 2014Q3'15 Q/QQ3'15 Y/YAverage daily active users (DAUs)192124(9%)(21%)Average mobile DAUs161716(5%)(5%)Average web DAUs348(22%)(55%)Average monthly active users (MAUs)7583103(9%)(27%)Average mobile MAUs616465(5%)(6%)Average web MAUs141938(23%)(63%)Average daily bookings per average DAU (ABPU)$0.100$0.091$0.07910%27%Average monthly unique users (MUUs) (1)516066(15%)(23%)Average monthly unique payers (MUPs) (1)0.91.01.2(9%)(24%)Payer conversion (1)1.7%1.6%1.8%6%(2%)(1) MUUs, MUPs and payer conversion exclude NaturalMotion legacy games (CSR Racing, CSR Classics and Clumsy Ninja) as our systems are unable to distinguish whether a player of a NaturalMotion legacy game is also a player of a Zynga game. We exclude players of NaturalMotion legacy games to avoid potential duplication of users.Third Quarter 2015 Financial Summary Revenue: Revenue was $196 million for the third quarter of 2015, a decrease of 2% compared to the second quarter of 2015 and an increase of 11% compared to the third quarter of 2014. Online game revenue was $151 million, a decrease of 7% compared to the second quarter of 2015 and an increase of 8% compared to the third quarter of 2014. Advertising and other revenue was $45 million, an increase of 18% compared to the second quarter of 2015 and an increase of 20% compared to the third quarter of 2014. Farmville 2, Zynga Poker, Hit It Rich! Slots, FarmVille 2: Country Escape and Wizard of Oz Slots accounted for 21%, 17%, 16%, 14% and 12% of online game revenue, respectively, for the third quarter of 2015 compared to FarmVille 2, Zynga Poker, FarmVille 2: Country Escape, Hit it Rich! Slots and Wizard of Oz Slots accounted for 18%, 18%, 16%, 16%, and 10% of online game revenue, respectively, for the second quarter of 2015.Bookings: Bookings were $176 million for the third quarter of 2015, an increase of 1% compared to the second quarter of 2015 and flat compared to the third quarter of 2014.Net income (loss): Net income was $3 million for the third quarter of 2015, compared to net loss of $27 million for the second quarter of 2015 and compared to net loss of $57 million for the third quarter of 2014. The increase in net income was primarily due to lower costs and expenses (primarily headcount-related costs, third party consulting costs, depreciation and amortization expense and restructuring expense) as well as a tax benefit recorded in the third quarter of 2015 related to purchasing accounting associated with our acquisition of Rising Tide Games.Adjusted EBITDA: Adjusted EBITDA was $12 million for the third quarter of 2015, compared to $1 million in the second quarter of 2015 and $2 million for the third quarter of 2014. The increase in adjusted EBITDA was primarily due to lower headcount-related costs and third party consulting costs.Non-GAAP net income (loss): Non-GAAP net income was $4 million for the third quarter of 2015, compared to non-GAAP net loss of $8 million in the second quarter of 2015 and a non-GAAP net loss of $7 million in the third quarter of 2014. The change in non-GAAP net income (loss) was primarily due to lower headcount-related costs, lower third party consulting costs and lower depreciation expense due to the consolidation of data center facilities.Net income (loss) per share: Diluted net income per share was $0.00 for the third quarter of 2015, compared to a diluted net loss per share of $0.03 for the second quarter of 2015 and a diluted net loss per share of $0.06 for the third quarter of 2014.Non-GAAP earnings (loss) per share: Non-GAAP earnings per share was $0.00 for the third quarter of 2015, compared to a non-GAAP net loss per share of $0.01 for the second quarter of 2015 and a non-GAAP net loss per share of $0.01 for the third quarter of 2014.Cash and cash flow: As of September 30, 2015, cash, cash equivalents and marketable securities were approximately $1.07 billion, compared to $1.10 billion as of June 30, 2015. Cash flow from operations was ($5) million for the third quarter of 2015, compared to $4 million for the second quarter of 2015 and ($2) million for the third quarter of 2014. Free cash flow was ($7) million for the third quarter of 2015, compared to $1 million for the second quarter of 2015 and ($5) million for the third quarter of 2014.Fourth Quarter Outlook Zynga’s outlook for the fourth quarter of 2015 is as follows: Revenue is projected to be in the range of $170 million to $185 millionNet loss is projected to be in the range of ($75) million to ($53) millionNet loss per share is projected to be in the range of ($0.08) to ($0.06) based on a share count projected to be approximately 933 million sharesBookings are projected to be in the range of $165 million to $180 millionAdjusted EBITDA is projected to be in the range of ($5) million to $5 millionNon-GAAP net loss per share is projected to be in the range of ($0.01) to ($0.00), based on a share count projected to be approximately 933 million sharesConference Call Details In addition to today’s press release, a copy of our Q3 2015 Quarterly Earnings Letter, which outlines our third quarter 2015 financial results and business outlook, is available on our website at http://investor.zynga.com. Zynga will host a live Q&A session today, November 3, 2015, at 2:00 pm PDT (5:00 pm EDT) to discuss financial results. Questions may be asked on the call or submitted in advance via email to [email protected], and the company will respond to as many questions as possible. The live Q&A session can be accessed at http://investor.zynga.com – a replay of which will be available through the website after the call – or via the below conference dial-in number: Toll-Free Dial-In Number: (800) 537-0745International Dial-In Number: (253) 237-1142Conference ID: 57603682 About Zynga Inc. Zynga Inc. is a leading developer of the world's most popular social games that are played by millions of monthly consumers. The company has created evergreen franchises such as FarmVille, Zynga Casino and Words With Friends. Zynga's NaturalMotion, an Oxford-based mobile game and technology developer, is the creator of hit mobile games in popular entertainment categories, including CSR Racing, CSR Classics and Clumsy Ninja. Zynga games have been played by more than 1 billion people around the world and are available on a number of global platforms including Apple iOS, Google Android, Facebook and Zynga.com. The company is headquartered in San Francisco, California. Learn more about Zynga at http://blog.zynga.com or follow us on Twitter and Facebook.The Zynga Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11743Key Operating Metrics We manage our business by tracking several operating metrics: "DAUs," which measure daily active users of our games, "MAUs," which measure monthly active users of our games, "MUUs," which measure monthly unique users of our games, "MUPs," which measure monthly unique payers in our games, and "ABPU," which measures our average daily bookings per average DAU, each of which is recorded by our internal analytics systems. The numbers for these operating metrics are calculated using internal company data based on tracking of user account activity. We also use third party network logins to help us track whether a player logged under two or more different user accounts is the same individual. We believe that the numbers are reasonable estimates of our user base for the applicable period of measurement; however, factors relating to user activity and systems may impact these numbers.Please refer to our Quarterly Report on Form 10-Q for the quarters ended March 31, 2015 and June 30, 2015 and, when filed, our Quarterly report on Form 10-Q for the quarter ended September 30, 2015 for our updated definitions of “DAU,” “MAU,” “MUU,” “MUP” and “ABPU.” MUUs, MUPs and payer conversion in this press release exclude NaturalMotion legacy games (CSR Racing, CSR Classics and Clumsy Ninja) as our systems are unable to distinguish whether a player of a NaturalMotion legacy game is also a player of a Zynga game. We exclude players of NaturalMotion legacy games to avoid potential duplication. We acquired NaturalMotion in February 2014. As a result, the financial information presented in this press release for January 2014 and a portion of February 2014 does not reflect any contribution from NaturalMotion. Forward-Looking Statements This press release contains forward-looking statements relating to, among other things, our outlook for the fourth quarter 2015 revenue, net loss, net loss per share, weighted average diluted share count, bookings, Adjusted EBITDA, non-GAAP net loss per share and non-GAAP weighted average diluted share count; certain other financial items necessary for GAAP to Non-GAAP reconciliation; our future operational plans, use of cash, strategies and prospects; our cost structure; the breadth and depth of our game slate for 2015 and the success of this slate, including the success of the recently launched Empires & Allies and Black Diamond Casino; our continued transition to mobile; our planned launch of mobile first games, including our planned launch of Dawn of Titans and CSR2 in 2016; our ability to sustain player engagement, optimize to increase long-term player retention and monetize our live games (including our Slots games, Words With Friends and Empires & Allies) and games in geo-lock testing, (including, Dawn of Titans and CSR2); our ability to grow our mobile bookings in 2015 and beyond; our ability to execute against our strategy and deliver long-term value to our shareholders, employees and players and fulfill our mission to connect the world through games; our ability to attract and retain key employees in light of business challenges, including employees key to franchise games and planned launches and senior management; the impact of changes in management, new hires and other organizational changes and roles on our organization; the strength of our balance sheet and our ability to effectively manage our cost structure and investments; the timely launch and success of our games, including the moved launch of Dawn of Titans and CSR2 to 2016; the success of our acquisition of Rising Tide Games,; our ability to improve our execution against audience growth and product quality; our ability to effectively market our games; our ability to execute in mobile; our ability to sustain and expand key games to sustain and grow audiences, bookings, and engagement, including games within our Slots Franchise (Hit It Rich! Slots, Wizard of Oz Slots and Black Diamond Casino), Words with Friends, Zynga Poker, FarmVille 2, FarmVille 2: Country Escape and Empires & Allies); investment in new game development, marketing for live games and new game launches and core infrastructure in data and analytics; our ability to build on our social legacy in both our web games and our new mobile games and build a player network across mobile games; our ability to accurately forecast our upcoming game launches and bookings and revenue related to upcoming game launches and the performance of our existing games; our ability to operate in an entrepreneurial manner, innovate on game mechanics, and leverage data and analytics in our operations; our ability to utilize, protect, defend and enforce our intellectual property; market opportunity in the social gaming market, including the mobile market, the advertising market, the market for social game categories in which we invest, and our ability to capitalize on and contribute to this market opportunity; and the announced share repurchase program and any potential repurchases of our shares. Forward-looking statements often include words such as “outlook,” “project,” “plan,” “intend,” “could,” “should,” “would,” “will,” “might,” “anticipate,” “estimate,” “continue,” “believe,” “may,” “target,” “expect,” or similar expressions, or the negative or plural of these words or expressions and statements in the future tense are generally forward-looking. The achievement or success of the matters covered by such forward-looking statements is subject to a number of risks, uncertainties, and assumptions. Moreover, we operate in a very competitive and rapidly changing environment and industry. New risks may also emerge from time to time. It is not possible for our management to predict all of the risks related to our business and operations, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make and reported results should not be considered as an indication of our future performance. Factors that could cause or contribute to such differences include, but are not limited to, the ability of key games, including our franchise games, to sustain or grow audiences, bookings and engagement; our relationship with Facebook, changes in the Facebook platform and/or changes in our agreement with Facebook; our relationship with Apple, Google and other Android platform providers, changes in the Android or iOS platforms and/or changes in our agreements with Apple, Google and/or other Android platform providers; our relationship and/or agreements with key licensing partners, additional platform providers or any key partners; the effectiveness of our cost-cutting activities and our ability to control and reduce expenses, including our estimated savings and charges associated with our restructuring efforts; our ability to efficiently deploy employees, leverage our teams and talent, including shifting resources when necessary to prioritize more important projects; our ability to retain and attract new talent; our ability to work as a team to execute against our strategy; our use of working capital in general; attrition or decline in existing games, including franchise games; our ability to launch and monetize successfully new games and features for web and mobile in a timely manner (such as the Leagues feature in Empires & Allies) and the success of these games and features, including planned features for our existing games; the process of integrating our operations into NaturalMotion Limited’s (“NaturalMotion’s”) and Rising Tide Games, Inc.’s (“Rising Tide Games”) operations and NaturalMotion’s and Rising Tide Games’s operations into our operations, including but not limited to our expected ability to expand our creative pipeline, accelerate our growth on mobile and deliver hit NaturalMotion games in 2016 and hit games from Rising Tide Games; planned launches from our franchises and planned launches in the content categories where we are focused; the ability of our games to generate revenue and bookings for a significant period of time after launch and the timing for market acceptance of new games; the effectiveness of our marketing program and initiatives and our ability to obtain game featuring from partners; our ability to understand industry trends, such as seasonality, and position our business to take advantage of these trends; our ability to successfully monitor and adapt to changes in gaming platform and consumer demand as the industry continues to evolve; our ability to run successful in game advertising campaigns; our exposure to illegitimate credit card activity and other security risks, including sales or purchases of virtual goods used in our games through unauthorized or illegitimate third-party websites; our ability to anticipate and address technical challenges that may arise; our ability to protect our players’ information and adequately address privacy concerns; our ability to maintain technology infrastructure and employees that can efficiently and reliably handle increased player usage, changes in mobile devices and game platforms, fast load times and the rapid deployment of new features and products; our ability to maintain reliable security services and infrastructure to protect against security breaches, computer malware and hacking attacks; competition in our industry; changing interests of players; our exposure to intellectual property disputes and other litigation; asset impairment charges; our evaluation of new business opportunities and acquisitions by us, including integration of newly acquired businesses; our future spend, including spend on R&D and marketing and our future margins; our ability to renew our existing brand, technology and content licenses as they expire and secure new licenses for top brands; our ability to manage risks, costs and other challenges associated with international expansion; the impact of laws and regulations on our business; changes in corporate strategy or management; our search for a Chief Financial Officer; and risks related to our share repurchase program and any repurchases of our shares, including that the timing and amount of any stock repurchases that will be determined based on market conditions, share price and other factors, that the program does not require us to repurchase any specific number of shares of our Class A common stock, and may be modified, suspended or terminated at any time without notice, that the stock repurchase program will be funded from existing cash on hand, the fact that the Company may adopt one or more plans pursuant to the provisions of Rule 10b5-1 under the Securities Exchange Act of 1934 in connection with the repurchase program and any share repurchases may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or by any combination of such methods, and that repurchases of our Class A common stock in the open market could result in increased volatility in our stock price. More information about factors that could affect our operating results is included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2014, our Quarterly report on Form 10-Q for the three months ended June 30, 2015, and, when filed, our Quarterly report on Form 10-Q for the three months ended September 30, 2015, copies of which may be obtained by visiting our Investor Relations web site at http://investor.zynga.com or the SEC’s web site at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. There is no guarantee that the circumstances described in our forward-looking statements will occur. Except as required by law, we assume no obligation to update any forward-looking statements for any reason to conform these statements to actual results or to changes in our expectations. The results we report in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 could differ from the preliminary results we have announced in this press release. Non-GAAP Financial Measures We have provided in this release non-GAAP financial information including bookings, Adjusted EBITDA, non-GAAP net loss, non-GAAP operating expense, free cash flow, non-GAAP provision for (benefit from) income taxes, and non-GAAP net loss per share, as a supplement to the consolidated financial statements, which are prepared in accordance with United States generally accepted accounting principles (“GAAP”). Management uses these non-GAAP financial measures internally in analyzing our financial results to assess operational performance and liquidity. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. We believe these non-GAAP financial measures are useful to investors because they allow for greater transparency with respect to key financial metrics we use in making operating decisions and because our investors and analysts use them to help assess the health of our business. In line with our historical practice, the financial information presented herein is provided on a supplemental, non-GAAP basis unless otherwise indicated. We have provided reconciliations between our historical and fourth quarter 2015 outlook for non-GAAP financial measures to the most directly comparable GAAP financial measures. Reconciliations of non-GAAP financial measures to the most recent directly comparable GAAP financial measures for the third quarter 2015 may be found (1) in this press release announcing third quarter 2015 financial results which is included as Exhibit 99.1 to our current report on Form 8-K , filed with the Securities and Exchange Commission on November 3, 2015, and, when filed, in our Quarterly Report on Form 10-Q for the three months ended September 30, 2015, copies of which may be obtained by visiting our Investor Relations web site at http://investor.zynga.com or the SEC’s web site at www.sec.gov, and (2) in our third quarter 2015 earnings slides presentation, dated November 3, 2015, a copy of which may be obtained by visiting our Investor Relations web site at http://investor.zynga.com. Some limitations of bookings, Adjusted EBITDA, non-GAAP net loss, non-GAAP operating expense, free cash flow, non-GAAP provision for (benefit from) income taxes, and non-GAAP net loss per share: Adjusted EBITDA, non-GAAP operating expense, non-GAAP net loss and non-GAAP provision for (benefit from) expense do not include the impact of stock-based expense, impairment of intangible assets previously acquired, acquisition-related transaction expenses, contingent consideration fair value adjustments and restructuring expense;Total Bookings, Adjusted EBITDA, non-GAAP net loss and non-GAAP provision for (benefit from) expense do not reflect that we defer and recognize online game revenue and revenue from certain advertising transactions over the estimated average life of durable virtual goods or as virtual goods are consumed;Adjusted EBITDA does not reflect income tax expense and does not include other income (expense) net, which includes foreign exchange gains and losses and interest income;Adjusted EBITDA and non-GAAP operating expense excludes depreciation and amortization of intangible assets, while non-GAAP net loss excludes amortization of intangible assets from acquisitions. Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future;Non-GAAP net loss per share gives effect to all dilutive awards based on the treasury stock method that were excluded from the GAAP diluted earnings per share calculation in periods when non-GAAP net income (loss) is positive and GAAP net income (loss) is negative; Free cash flow is derived from net cash provided by operating activities less cash spent on capital expenditures and acquisitions, and removing the excess income tax benefits or costs associated with stock-based awards; andOther companies, including companies in our industry, may calculate bookings, Adjusted EBITDA, non-GAAP net loss, non-GAAP operating expense, free cash flow, non-GAAP provision for (benefit from) income taxes, and non-GAAP net loss per share differently or not at all, which will reduce their usefulness as a comparative measure.Because of these limitations, you should consider bookings, Adjusted EBITDA, non-GAAP net income (loss), non-GAAP operating expense, free cash flow, non-GAAP provision for (benefit from) income taxes, and non-GAAP net income (loss) per share, along with other financial performance measures, including revenue, net income (loss), diluted net loss per share, cash flow from operations, GAAP operating expense, GAAP operating margin and our other financial results presented in accordance with GAAP. See the GAAP to non-GAAP reconciliations below and in the places listed above for further details. ZYNGA INC.CONSOLIDATED BALANCE SHEETS(In thousands, unaudited)September 30,December 31,20152014AssetsCurrent assets: Cash and cash equivalents$ 663,020$131,303 Marketable securities 406,701785,221 Accounts receivable 87,21489,611 Income tax receivable 5,0163,304 Deferred tax assets 5202,765 Restricted cash 21048,047 Other current assets 31,47522,688Total current assets 1,194,1561,082,939Long-term marketable securities 4,515231,385Goodwill 667,195650,778Other intangible assets, net 72,49766,861Property and equipment, net 280,535297,919Long-term restricted cash 1,000- Other long-term assets 17,88618,911Total assets$ 2,237,784$2,348,793Liabilities and stockholders’ equityCurrent liabilities: Accounts payable$ 27,507$14,965 Other current liabilities 59,541164,150 Deferred revenue 132,510189,923Total current liabilities 219,558369,038Deferred revenue 198 3,882Deferred tax liabilities 6,592 5,323Other non-current liabilities 91,007 74,858Total liabilities 317,355453,101Stockholders’ equity:Common stock and additional paid in capital 3,206,6293,096,982Accumulated other comprehensive income (loss) (41,414) (29,175)Accumulated deficit (1,244,786) (1,172,115)Total stockholders’ equity 1,920,429 1,895,692Total liabilities and stockholders’ equity$ 2,237,784$ 2,348,793 ZYNGA INC.CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data, unaudited) Three Months EndedNine Months EndedSeptember 30, 2015June 30, 2015September 30, 2014September 30, 2015September 30, 2014Revenue: Online game$ 151,168$ 162,161$ 139,372$ 461,292$ 402,608 Advertising and other 44,569 37,757 37,239 117,656 95,255Total revenue 195,737 199,918 176,611 578,948 497,863Costs and expenses: Cost of revenue 57,187 57,779 53,286 172,588 158,078 Research and development 78,416 90,896 100,113 276,832 291,419 Sales and marketing 43,549 41,119 44,005 116,507 115,466 General and administrative 25,765 37,805 38,536 103,951 128,703Total costs and expenses 204,917 227,599 235,940 669,878 693,666Income (loss) from operations (9,180) (27,681) (59,329) (90,930) (195,803)Interest income (expense), net 566 605 841 1,965 2,487Other income (expense), net 2,285 1,199 647 11,843 2,668Income (loss) before income taxes (6,329) (25,877) (57,841) (77,122) (190,648)Provision for (benefit from) income taxes (9,381) 991 (783) (6,810) (9,874) Net income (loss)$ 3,052$ (26,868)$ (57,058)$ (70,312)$ (180,774) Net income (loss) per share: Basic$0.00 $ (0.03)$ (0.06)$ (0.08)$ (0.21) Diluted$0.00 $ (0.03)$ (0.06)$ (0.08)$ (0.21) Weighted average common shares used to compute net income (loss) per share: Basic 921,116 911,699 884,021 910,469 869,178 Diluted940,032 911,699 884,021 910,469 869,178 Stock-based expense included in the above line items: Cost of revenue$ 991$ 772$ 1,110$ 2,835$ 3,391 Research and development 22,308 19,860 24,281 70,485 60,293 Sales and marketing 2,045 1,617 1,187 5,181 4,505 General and administrative 5,092 5,656 9,717 21,302 25,279 Total stock-based expense$ 30,436$ 27,905$ 36,295$ 99,803$ 93,468 ZYNGA INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands, unaudited) Three Months EndedNine Months EndedSeptember 30, 2015June 30, 2015September 30, 2014September 30, 2015September 30, 2014Operating activitiesNet income (loss)$ 3,052$ (26,868)$ (57,058)$ (70,312)$ (180,774)Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization 11,287 13,340 19,283 42,349 64,553 Stock-based expense 30,436 27,905 36,295 99,803 93,468 Accretion and amortization on marketable securities 1,057 1,797 2,385 4,941 7,783 (Gain) loss from sales of investments, assets and other, net (633) 406 853 (6,283) 2,131 Tax benefits (costs) from stock-based awards 90 - - 90 - Excess tax benefits from stock-based awards (90) - - (90) - Deferred income taxes (10,392) 243 (1,038) (9,151) (10,113)Changes in operating assets and liabilities: Accounts receivable, net (4,313) (3,233) (2,560) 2,544 (13,443) Income tax receivable (183) (331) 4,478 (1,712) 3,200 Other assets (3,068) (1,105) 4,032 (11,860) (3,860) Accounts payable (536) 11,699 (7,503) 12,226 (5,919) Deferred revenue (19,757) (25,457) (1,123) (61,097) 13,838 Other liabilities (12,062) 5,806 (460) (49,360) 20,280Net cash provided by (used in) operating activities (5,112) 4,202 (2,416) (47,912) (8,856)Investing activitiesPurchase of marketable securities - - (147,082) (101,091) (617,256)Sales and maturities of marketable securities 211,350 256,112 141,286 702,017 667,706Acquisition of property and equipment (1,608) (3,127) (2,429) (6,847) (7,078)Proceeds from sale of property and equipment 750 - 3 750 5,059Business acquisition, net of cash acquired (20,023) - (718) (20,023) (391,711)Proceeds from sale of equity method investment - - - 10,507 - Other investing activities, net - - (343) - 357Net cash provided by (used in) investing activities 190,469 252,985 (9,283) 585,313 (342,923)Financing activitiesTaxes paid related to net share settlement of equity awards (453) (405) (210) (1,866) (963)Proceeds from employee stock purchase plan and exercise of stock options 2,957 945 4,805 7,292 15,728Excess tax benefits from stock-based awards 90 - - 90 - Acquisition related contingent consideration payment - - - (10,790) - Net cash provided by (used in) financing activities 2,594 540 4,595 (5,274) 14,765Effect of exchange rate changes on cash and cash equivalents (359) 246 (246) (410) (231)Net increase (decrease) in cash and cash equivalents 187,592 257,973 (7,350) 531,717 (337,245)Cash and cash equivalents, beginning of period 475,428 217,455 135,628 131,303 465,523Cash and cash equivalents, end of period$ 663,020$ 475,428$ 128,278 663,020$ 128,278 ZYNGA INC.RECONCILIATION OF GAAP TO NON-GAAP RESULTS(In thousands, except per share data, unaudited)Three Months EndedNine Months EndedSeptember 30, 2015June 30, 2015September 30, 2014September 30, 2015September 30, 2014Reconciliation of Revenue to BookingsRevenue$ 195,737$ 199,918$ 176,611$ 578,948$ 497,863Change in deferred revenue (19,758) (25,456) (1,123) (61,097) 14,085Bookings$ 175,979$ 174,462$ 175,488$ 517,851$ 511,948Reconciliation of Net income (loss) to Adjusted EBITDANet income (loss)$ 3,052$ (26,868)$ (57,058)$ (70,312)$ (180,774)Provision for (benefit from) income taxes (9,381) 991 (783) (6,810) (9,874)Other income (expense), net (2,285) (1,199) (647) (11,843) (2,668)Interest income (expense), net (566) (605) (841) (1,965) (2,487)Restructuring expense, net 416 12,855 287 16,732 27,672Gain (loss) on legal settlements (1,681) - - (1,681) - Depreciation and amortization 11,287 13,340 19,283 42,349 64,553Acquisition-related transaction expenses 895 - - 895 6,425Contingent consideration fair value adjustment - - 6,750 9,400 20,100Stock-based expense 30,436 27,905 36,295 99,803 93,468Change in deferred revenue (19,758) (25,456) (1,123) (61,097) 14,085Adjusted EBITDA$ 12,415$ 963$ 2,163$ 15,471$ 30,500Reconciliation of Net income (loss) to Non-GAAP net income (loss)Net income (loss)$ 3,052$ (26,868)$ (57,058)$ (70,312)$ (180,774)Acquisition-related transaction expenses 895 - - 895 6,425Contingent consideration fair value adjustment - - 6,750 9,400 20,100Stock-based expense 30,436 27,905 36,295 99,803 93,468Amortization of intangible assets from acquisitions 6,233 6,160 6,710 18,657 15,908Change in deferred revenue (19,758) (25,456) (1,123) (61,097) 14,085Restructuring expense, net 416 12,855 287 16,732 27,672Gain (loss) on legal settlements (1,681) - - (1,681) - Tax effect of non-GAAP adjustments to net income (loss) (15,912) (2,174) 1,458 (23,007) (7,015)Non-GAAP net income (loss)$ 3,681$ (7,578)$ (6,681)$ (10,610)$ (10,131)GAAP and Non-GAAP diluted shares940,032 911,699 884,021 910,469 869,178Non-GAAP net income (loss) per share:$0.00 $ (0.01)$ (0.01)$ (0.01)$ (0.01)Reconciliation of Cash provided by (used in) operating activities to Free cash flowNet cash provided by (used in) operating activities (5,112) 4,202 (2,416) (47,912) (8,856)Acquisition of property and equipment (1,608) (3,127) (2,429) (6,847) (7,078)Excess tax benefits (loss) from stock-based awards 90 - - 90 - Free cash flow$ (6,630)$ 1,075$ (4,845)$ (54,669)$ (15,934)Reconciliation of GAAP to Non-GAAP provision for (benefit from) income taxesGAAP provision for (benefit from) income taxes (9,381) 991 (783) (6,810) (9,874)Stock-based expense 7,351 2,847 (72) 14,762 3,691Amortization of intangible assets from acquisitions 3,858 643 23 5,190 629Acquisition-related transaction expenses 1,248 - (169) 1,248 254Contingent consideration fair value adjustment - - (85) 1,035 793Change in deferred revenue (562) (2,685) (445) (4,995) 556Restructuring expense, net 2,905 1,369 (710) 4,655 1,092Gain (loss) on legal settlements 1,112 - - 1,112 - Non-GAAP provision for (benefit from) income taxes$ 6,531$ 3,165$ (2,241)$ 16,197$ (2,859) ZYNGA INC.RECONCILIATION OF GAAP TO NON-GAAP FOURTH QUARTER 2015 OUTLOOK(In thousands, except per share data, unaudited)Fourth Quarter 2015Reconciliation of Revenue to BookingsRevenue range$170,000 – 185,000Change in deferred revenue(5,000)Bookings range$165,000 – 180,000Reconciliation of Net income (loss) to Adjusted EBITDANet income (loss) range$(75,000) – (53,000)Provision for (benefit from) income taxes0 – 3,000Other income (expense), net(2,000)Interest income (expense), net(1,000)Restructuring expense, net31,000 – 21,000Depreciation and amortization12,000Stock-based expense35,000 – 30,000Change in deferred revenue(5,000)Adjusted EBITDA range$(5,000) – 5,000Reconciliation of Net income (loss) to Non-GAAP net income (loss)Net income (loss) range$(75,000) – (53,000)Stock-based expense35,000 – 30,000Amortization of intangible assets from acquisitions7,000Change in deferred revenue(5,000)Restructuring expense, net31,000 – 21,000Tax effect of non-GAAP adjustments to net income (loss)(1,000) – (2,000)Non-GAAP net income (loss) range$(8,000) – (2,000)GAAP and Non-GAAP diluted shares933,000Net income (loss) per share range$(0.08) – (0.06)Non-GAAP net income (loss) per share range$(0.01) – (0.00) CONTACT: Investors – Melissa Fisher 415-339-5266 [email protected] Press – Stephanie Hess 415-503-0303 [email protected]

Pinnacle Entertainment to Transfer to the Nasdaq Stock Market

LAS VEGAS, Nov. 4, 2015 (GLOBE NEWSWIRE) -- Pinnacle Entertainment, Inc. (NYSE:PNK) today announced it will voluntarily transfer the listing of its common stock, along with the preferred share purchase rights, from the New York Stock Exchange ("NYSE") to the Nasdaq Global Select Market ("Nasdaq"). Trading of Pinnacle's common stock on Nasdaq, along with the preferred share purchase rights, is expected to commence on November 17, 2015 under its current ticker symbol "PNK." Pinnacle will continue to trade on the NYSE until that time. Forward Looking Statements All statements included in this press release, other than historical information or statements of historical fact, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as, but not limited to, "believes," "expects," "anticipates," "estimates," "intends," "plans," "could," "may," "will," "should," and similar expressions are intended to identify forward-looking statements. All forward-looking statements rely on a number of assumptions, estimates and data concerning future results and events and are subject to a number of uncertainties and other factors, many of which are outside the Company's control that could cause actual results to differ materially from actual those reflected in such statements. Accordingly, Pinnacle cautions that the forward-looking statements contained herein are qualified by these and other important factors and uncertainties that could cause results to differ materially from those reflected by such statements. For more information on the potential factors, please review the Company's filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. About Pinnacle Entertainment Pinnacle Entertainment, Inc. owns and operates 15 gaming entertainment properties, located in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada and Ohio. Pinnacle holds a majority interest in the racing license owner, as well as a management contract, for Retama Park Racetrack outside of San Antonio, Texas. CONTACT: Vincent J. Zahn, CFA Vice President, Finance, Investor Relations and Treasury 702-541-7777/[email protected]

Icahn Enterprises L.P. Announces Q3 2015 Earnings Conference Call

NEW YORK, Nov. 2, 2015 (GLOBE NEWSWIRE) -- Icahn Enterprises L.P. (NASDAQ:IEP) announced today that it will discuss its third quarter 2015 results on a conference call and webcast on Thursday, November 5, 2015 - 10:00 a.m. EST. The Webcast can be viewed live on Icahn Enterprises L.P.'s website at www.icahnenterprises.com. It will be archived and made available at www.icahnenterprises.com under the Investor Relations section. The toll-free dial-in number for the conference call in the United States is (866) 393-0676. The international number is (253) 237-1149. Icahn Enterprises L.P. (NASDAQ:IEP), a master limited partnership, is a diversified holding company engaged in ten primary business segments: Investment, Automotive, Energy, Metals, Railcar, Gaming, Mining, Food Packaging, Real Estate and Home Fashion. Caution Concerning Forward-Looking Statements Results for any interim period are not necessarily indicative of results for any full fiscal period. This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of Icahn Enterprises L.P. and its subsidiaries. Among these risks and uncertainties are risks related to economic downturns, substantial competition and rising operating costs; risks related to our investment activities, including the nature of the investments made by the private funds in which we invest, losses in the private funds and loss of key employees; risks related to our automotive activities, including exposure to adverse conditions in the automotive industry, and risks related to operations in foreign countries; risks related to our energy business, including the volatility and availability of crude oil, other feed stocks and refined products, unfavorable refining margin (crack spread), interrupted access to pipelines, significant fluctuations in nitrogen fertilizer demand in the agricultural industry and seasonality of results; risk related to our gaming operations, including reductions in discretionary spending due to a downturn in the local, regional or national economy, intense competition in the gaming industry from present and emerging internet online markets and extensive regulation; risks related to our railcar activities, including reliance upon a small number of customers that represent a large percentage of revenues and backlog, the health of and prospects for the overall railcar industry and the cyclical nature of the railcar manufacturing business; risks related to our food packaging activities, including competition from better capitalized competitors, inability of its suppliers to timely deliver raw materials, and the failure to effectively respond to industry changes in casings technology; risks related to our scrap metals activities, including potential environmental exposure; risks related to our real estate activities, including the extent of any tenant bankruptcies and insolvencies; risks related to our home fashion operations, including changes in the availability and price of raw materials, and changes in transportation costs and delivery times; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission. Past performance in our Investment segment is not necessarily indicative of future performance. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise. CONTACT: Investor Contacts: SungHwan Cho, Chief Financial Officer Peter Reck, Chief Accounting Officer (212) 702-4300

GWAZY Ltd’s Trading Platform Now Offered by HiWayFx

LIMASSOL, Cyprus, Oct. 30, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Forex broker HiWayFX has recently announced their cooperation with GWAZY Ltd. HiWayFX is now offering demo and live accounts with the innovative GWAZY trading method and platform. The GWAZY platform can be mastered in less than 10 minutes, regardless of the background of traders. GWAZY was created to provide traders with all the benefits of margin trading but without the complications, by incorporating various trading principles into one fast and robust trading method, making trading easier than ever. To trade on GWAZY, all traders need to do is select instrument, the return percentage which varies between 25%, 50%, 100% or even 200% depending on the risk appetite, the amount of investment starting from $10 up to $250 and the direction of the market – up or down. One of the main advantages of GWAZY trading is that risk and return levels are predetermined therefore all information is crystal clear to traders at all times. Traders can also try a free demo of the GWAZY platform and join contests free on the GWAZY League. "The exciting gaming environment offered by the GWAZY platform opens new doors to brokers, giving them the opportunity to capture different market segments as most trading platforms that are currently available in the market reflect more 'traditional' trading methods. We would like to welcome HiWayFX on board and look forward to more brokers joining us" said Martin, Head of Development at GWAZY Ltd. More information on the GWAZY White Label can be found here. About GWAZY Ltd. GWAZY Limited (Ltd) is the technology provider, developer of the GWAZY Trading Platform, the GWAZY Trading Method and the GWAZY League. About HiWayFX HiWayFX is an online Forex broker offering trading services internationally. Their aim is to provide clients with the highest quality services and innovative solutions for Online Trading. They offer many beneficial options for successful trading. This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2015/11/prweb13054125.htm CONTACT: Gwazy Ltd. Graham Moss [email protected] +44 207 117 2081

Mad Catz(R) to Report Fiscal 2016 Second Quarter Results on November 5 and Host...

SAN DIEGO, Oct. 28, 2015 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. ("Mad Catz") (NYSE MKT:MCZ) (TSX:MCZ) announced today that it will release its fiscal 2016 second quarter results for the period ended September 30, 2015, after the market closes on Thursday, November 5, 2015, and will host a conference call and webcast at 5:00 p.m. ET that same day. Both the call and webcast are open to the general public. Time: Thursday, November 5, 2015, at 5:00 p.m. ET Dial-in Number: (303) 223-4376 (U.S. & International) Webcast: www.madcatz.com, select "Investor Relations" Web Replay: 30 days Call Replay Until Saturday, December 5, 2015, at 7:00 p.m. ET Replay Number: (800) 633-8284 or (402) 977-9140 (International) Access Code: 21783853 Please call five minutes in advance to ensure that you are connected prior to the start of the call. Questions and answers will be reserved for call-in analysts and institutional investors. For the webcast, please allow 15 minutes to register and download and install any necessary software. About Mad Catz: Mad Catz Interactive, Inc. ("Mad Catz") (NYSE MKT:MCZ) (TSX:MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming), Tritton® (audio), and Saitek® (simulation) brands. Mad Catz products cater to passionate gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows PC and Mac® computers, smart phones, tablets and other mobile devices. Mad Catz distributes its products through its online store as well as distribution via many leading retailers around the globe. Headquartered in San Diego, California, Mad Catz maintains offices in Europe and Asia. For additional information about Mad Catz and its products, please visit the Company's website at www.madcatz.com Social Media: https://www.facebook.com/MadCatz.Global http://twitter.com/MadCatz http://www.youtube.com/MadCatzCompany CONTACT: Mad Catz: Mad Catz Interactive, Inc. Karen McGinnis, CFO [email protected] or (858) 790-5008 Investor Relations: Joseph Jaffoni, Norberto Aja, Jim Leahy JCIR [email protected] or (212) 835-8500

Skullcandy Announces Reporting Date for Third Quarter 2015 Financial Results

PARK CITY, Utah, Oct. 26, 2015 (GLOBE NEWSWIRE) -- Skullcandy, Inc. (Nasdaq:SKUL) announced today that the Company will conduct a conference call to discuss its third quarter 2015 financial results on...

Celebrate the 80s With New Rock Band(TM) 4 Tracks From Depeche Mode, INXS, and...

BOSTON, Oct. 26, 2015 (GLOBE NEWSWIRE) -- Harmonix is excited to announce today that a selection of classic 80s tracks will be coming to the Rock Band™ 4 Music Store this...

Mad Catz Announces Pre-Order Details for First Street Fighter V Licensed Tournament Edition FightStick

SAN DIEGO, Oct. 26, 2015 (GLOBE NEWSWIRE) -- Mad Catz Interactive, Inc. ("Mad Catz") (NYSE MKT:MCZ) (TSX:MCZ) announced today the start of pre-orders for a limited edition Tournament Edition 2 FightStick,...

Final 10 Gamers Qualify to Win 1 Million Dollars From Game App

DALLAS, Oct. 23, 2015 (GLOBE NEWSWIRE) -- Million: The Game, the first eSports game app developed by AIGC Games and available in the App Store & Android Play Store for free,...

It’s App-ening again! National student app contest and $10,000 grand prize is back for...

BRAMPTON, Ontario, Oct. 23, 2015 (GLOBE NEWSWIRE) -- It's App-ening again! William Osler Health System's (Osler) national student app contest is back for its third year - with a $10,000 prize...

First Game App Deletes Itself After 120 Days by AIGC Games, Inc.

DALLAS, Oct. 22, 2015 (GLOBE NEWSWIRE) -- GO UP! AG3 & Monster AG2*, the first game apps developed by AIGC Games and available in the App Store* for free, have been...