Zynga Q1 Loss Narrows

(RTTNews) - Zynga Inc. (ZNGA) Wednesday reported first-quarter loss of $103.9 million or $0.11 per share, compared to $128.8 million or $0.14 per share last year.

Revenues for the quarter grew to $403.8 million from $265.4 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.05 per share on sales of $406.67 million.

"During this unprecedented time, Zynga's mission - to connect the world through games - has become even more meaningful for our company. As people around the world shelter-in-place, friends and families are turning to social games as an incredibly engaging and highly accessible way to connect," said CEO Frank Gibeau.

Looking forward, Zynga expects revenues of $400 million and $1.65 billion for the second quarter and full year 2020, respectively. Analysts currently estimate revenues of $421.43 million and $1.76 billion.