Zynga Q4 Loss Widens; Outlook Weak

(RTTNews) - Social game developer Zynga Inc. (ZNGA) reported a net loss for the fourth quarter of $45.1 million or $0.05 per share, compared to a net loss of $25.2 million or $0.03 per share for the year-ago quarter.

Excluding items, adjusted net loss for the fourth quarter was $2.5 million or breakeven per share, compared to an adjusted net loss of $20.8 million or $0.03 per share in the prior year quarter.

Revenue for the fourth quarter rose 9% to $192.55 million from $176.36 million a year ago.

Analysts polled by Thomson Reuters expected the company to report breakeven per share on rvenue of $201.11 million for the fourth quarer. Analysts' estimates typically exclude special items.

Zynga also announced the closure of its Zynga China studio. The closure will affect all 71 employees in the Beijing-based studio, and will result in an annualized cost savings of $7 million dollars.

Looking forward to the first quarter, the company forecasts revenue of $155 million to $165 million, loss of $0.07 to $0.06 per share amd adjusted loss of $0.03 to $0.02 per share. Analysts currently expect the company to report breakeven per share on revenue of $200.87 million for the first quarter.