Zynga's First-Quarter Financials Exceed Expectations
Social gaming company Zynga, led by CEO Mark Pincus, on Thursday reported a weaker first-quarter bottom line, but exceeded Wall Street expectations with its financials.
The company, known for such casual Facebook games as Mafia Wars, FarmVille and CityVille, recorded quarterly earnings of $47.0 million, compared with $75.4 million in the year-ago period. Including such items as stock-based compensation costs and deferred revenue changes, Zynga swung to a loss of $85.4 million, compared with a year-ago profit of $16.8 million.
Revenue rose 32 percent to $321 million.
In its first full quarter as a public company, Zynga said it had 292 monthly active users in the quarter ended March 31, up from 232 million in the same period a year earlier.