February 5th, 2013 7:02 pm EST
Zynga Up in Afterhours After Q4 Earnings
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