Zynga Inc. (NASDAQ:ZNGA) announced a net loss for the Q1 on Thursday afternoon, though revised earnings and bookings came in ahead of Wall Street’s forecasts for the period.
The results as well showed a sharp climb in costs for the period. Equity compensation helped drive the firm into a loss for the period.
Spending on R&D as well surged by 160%, as the social game maker invests in building new titles to add to its slate of games that include popular titles like “FarmVille,” “CityVille” and “Words with Friends.”
Shares of Zynga dropped in excess of 2% in extended trading session after the report. The stock has declined in excess of 35% since early March, though the shares rose 3.4% at $9.42 during the regular session on Thursday.
For the three months ended March 31, Zynga announced a net loss of $85.4 million, or 12 cents per share, against net income of $16.8 million, or break even on a per-share basis, for the similar period previous year.
Revised earnings came in at $47 million, or 6 cents per share. Bookings for the quarter increased 15% to $329.2 million. Revenue rallied 32% to $321 million.
Analysts were expecting revised earnings of 5 cents per share on sales of $318 million, in accordance with consensus forecasts from FactSet Research.
Daily average users, or DAUs, amplified 6% to 65 million for the quarter as compared to the similar period previous year. Monthly active users, or MAUs, advanced 24% to 292 million in the period.
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