Zynga ends 2012 with a $209 million loss, but beats expectations
Zynga has officially closed the books on its first year as a publicly traded company, and there's both good news and bad news for the struggling social and mobile game giant.
The bad news: the company lost $209 million dollars during the year, and lost 6 of its 60 million daily active users between the third and fourth quarters of 2012.
The good news, though, is that it did better than Wall Street analysts were expecting: the company generated $311 million in revenues during the quarter, versus a $212 million analyst consensus.
Investors seem happy: share prices are up around 6 percent
in after hours trading.
CEO Mark Pincus attributed the revenues to the healthy performance of FarmVille 2
Zynga's had a rough time lately, having recently shut down 11 games
after major layoffs, continuing to be drained of its executive and creative staff
, and recently losing its spot
at the top of the Facebook game charts.
The company says it will continue shuttering games that aren't performing to is expectations: CityVille 2
, The Friend Game
and Party Place
In 2013, Zynga will attempt to grow its mobile presence, and will take its first steps toward real money gambling.