Zynga reports higher-than-expected bookings, to cut jobs

Reuters News
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Posted: May 06, 2015 4:18 PM

(Reuters) - Zynga Inc, creator of "FarmVille", reported higher-than-expected quarterly bookings of $167.4 million as titles such as "Words With Friends" and "Zynga Casino" attracted more gamers.

Shares of the company, which also said it would cut about 18 percent of its workforce, rose 10.7 percent in extended trading.

Analysts on average had expected bookings of $149.2 million for the first quarter ended March 31, according to market research firm Factset StreetAccount.

Zynga's net loss narrowed to $46.5 million, or 5 cents per share, from $61.2 million, or 7 cents per share, a year earlier.

Total revenue rose to $183.3 million from $168.0 million.

(Reporting by Devika Krishna Kumar and Subrat Patnaik in Bengaluru; Editing by Ted Kerr)