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Zynga: 1Q Earnings Snapshot

Zynga: 1Q Earnings Snapshot

Associated Press

SAN FRANCISCO (AP) _ Zynga Inc. (ZNGA) on Wednesday reported a first-quarter loss of $128.8 million, after reporting a profit in the same period a year earlier.

The San Francisco-based company said it had a loss of 14 cents per share. Losses, adjusted for stock option expense, were 12 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The maker of "FarmVille" and other online games posted revenue of $265.4 million in the period. Its adjusted revenue was $359.5 million, surpassing Street forecasts. Six analysts surveyed by Zacks expected $327.3 million.

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Zynga shares have risen 40% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.51, a rise of 57% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZNGA at https://www.zacks.com/ap/ZNGA