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February 5th, 2013 7:02 pm EST

Zynga Up in Afterhours After Q4 Earnings



Zynga on the rise - Illustration

Zynga, operator of games such as Zynga Poker and Farmville, reported their fourth quarter earnings after the bell earlier today.

Zynga reported net earnings on an adjusted basis of $0.01 in their fourth quarter on revenues of $311 million. Analysts had been expecting a loss of 3 cents and revenues of $250 million.

Zynga's Q4 bottom line benefited from cost cutting, as the company axed employees, closed down offices and shuttered older games.

Zynga's stock was up about 5% in afterhours after the report.

--

There was not much said during the company's conference call regarding future real-money poker offerings.

As it stands right now, Zynga and Bwin.Party are planning on launching real money poker, casino and Farmville-centric slots games during the "first half of 2013".

In addition, Zynga has also applied for a gaming license in Nevada.

Zynga's executives were fairly mum on the company's real-money gaming plans during their conference call. The company revealed that they have nothing specific planned in terms of real-money games beyond their forthcoming launch in the United Kingdom. The Zynga/Bwin.Party launch seems to still be on track at this point.

--

Shares of Zynga, which have been battered and bruised since the company went public, are currently trading at $2.92 in afterhours trading.


Filed Under: Other Poker News




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