Zynga Posts 4Q Net Loss, Higher Revenue


Salon Staff
February 15, 2012 2:36AM (UTC)

NEW YORK (AP) — Online game maker Zynga says it booked a net loss in the fourth quarter, weighed by hefty stock-compensation expenses and other costs in its first quarter as a public company.

Zynga Inc. lost $435 million, or $1.22 per share, in the period. That's down from earnings of $16 million, or 5 cents per share, a year earlier.

Advertisement:

Adjusted earnings were 5 cents per share, surpassing Wall Street's expectations. This excludes $510 million in stock compensation expenses triggered by the IPO and other items.

Revenue rose 59 percent to $311 million as Zynga grew its user base, ad revenue and the money it makes from games such as "CityVille."

Analysts surveyed by FactSet expected Zynga to earn 3 cents per share on revenue of $302 million.

Zynga's stock is declining after-hours.


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •