Zynga Q1 Results Top Estimates

(RTTNews) - Social game developer Zynga Inc. (ZNGA) reported a net loss for the first quarter of $46.5 million or $0.05 per share, compared to a net loss of $61.2 million or $0.07 per share for the year-ago quarter.

Excluding items, adjusted net loss for the first quarter was $6.7 million or $0.01 per share, compared to an adjusted net loss of $6.3 million or $0.01 per share in the prior year quarter.

Revenue for the first quarter rose 9% to $183.29 million from $168.02 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share on revenue of $147.72 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts revenue of $175 million to $190 million, a loss of $0.06 per share and an adjusted loss of $0.02 per share. Analysts currently expect the company to report a loss of $0.02 per share on revenue of $156.00 million for the second quarter.