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.
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