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February 5, 2013

Zynga reports flat revenue in Q4, net loss narrows

The company's net loss was $48.6m for the quarter.

By CBR Staff Writer

Social gaming company Zynga has reported revenues of $311m for the fourth quarter of 2012, unchanged when compared to the corresponding quarter in 2011.

The company reported revenues of $316.6m in the third quarter of 2012.

For the fourth quarter of 2012, the company’s net loss narrowed to $48.6m, or $0.06 per share, compared to the net loss of $435m, or $1.22 per share, for the same period last year.

Online game revenues decreased 3% for the quarter while advertising revenues surged 35%.

The company had 298 million active users each month in the quarter, up 24%, when compared to 240 million users it had a year earlier.

Zynga CEO Mark Pincus said: "Mobile, however, remains a more fragmented experience. Despite the incredible growth in mobile gaming, it’s still hard for any of us to find people to actually play with."

For the first-quarter of 2013, Zynga expects revenue to be between $255m and $265m.

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Last year, Zynga revealed plans on reducing its full-time workforce by about 5% and closing some of its studios.

Zynga also cut 11 games on Facebook in its planned shutdown of 13 game titles.

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