Zynga Posts Smaller Net Loss; Revenue Flat

SAN FRANCISCO (CBS/AP) — Online game maker Zynga is reporting a smaller net loss and nearly flat revenue for the fourth quarter of 2012, a year in which its stock price shrank 75 percent.

The company behind “FarmVille” said Tuesday that it lost $48.6 million, or 6 cents per share, in the October-December period. That compares with a loss of $435 million, or $1.22 per share, in the same period a year earlier.

Zynga was privately held for most of the 2011 quarter. It began trading publicly on Dec. 16, 2011.

Excluding one-time items, Zynga said it earned 1 cent per share in the latest quarter.

Zynga says revenue was about $311 million.

Analysts polled by FactSet were expecting a loss of 3 cents per share on revenue of about $250 million.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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