'Farmville' developer Zynga reports lower-than-expected bookings

Reuters News
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Posted: Feb 12, 2015 4:34 PM

(Reuters) - "FarmVille" creator Zynga Inc reported lower-than-expected quarterly bookings of $182.4 million as releases such as "New Words with Friends" failed to excite gamers.

Analysts on average had expected bookings of $201.5 million for the fourth quarter ended Dec. 31, according to market research firm StreetAccount.

Zynga's net loss widened to $45.1 million, or 5 cents per share, from $25.2 million, or 3 cents per share, a year earlier.

Revenue rose to $192.5 million from $176.4 million.

Zynga records the sale of virtual goods and downloads as deferred revenue, which is recognized as these goods are consumed. Bookings equal revenue recognized in a period plus the change in deferred revenue.

(Reporting by Subrat Patnaik in Bengaluru; Editing by Kirti Pandey)