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Zynga woes deepen as it loses money and players

Social games pioneer Zynga reported Thursday that it lost money and players in the last quarter, sending its already struggling shares tumbling. Investors also seemed disappointed that Zynga has sidelined efforts to get into real-money gambling in the United States, opting instead to pour its energy into the booming market for play on smartphones or tablets. "Zynga believes its biggest opportunity is to focus on free to play social games," the company said in the earnings release.

Zynga woes deepen as it loses money and players

Social games pioneer Zynga reported Thursday that it lost money and players in the last quarter, sending it already struggling shares tumbling. Zynga said that it lost $15.8 million on revenue that shrank 38 percent from a year earlier to $230.7 million. Meanwhile, the number of people playing Zynga games daily plunged 45 percent from last year to 39 million, according to the company. The number of monthly active users was down 39 percent to 187 million in a year-over-year comparison.

Zynga chief replaced by Microsoft videogame executive

Zynga co-founder Mark Pincus on Monday said he is handing over the helm of the struggling social games company to Microsoft entertainment division chief Don Mattrick. Word that videogame industry veteran Mattrick would be in command of San Francisco-based Zynga beginning next week sent shares climbing more than 10 percent to $3.26. "I've always said (to the Zynga board) that if I could find someone who could do a better job as our CEO I'd do all I could to recruit and bring that person in," Pincus said in a letter to employees. "I'm confident that Don is that leader."

Zynga shares take a hit as player ranks shrink

Zynga shares fell on Wednesday after the pioneering social games firm hit quarterly earnings targets but revealed the number of players had ebbed. Zynga reported that it made $4.1 million on revenue of $263.6 million in the three months that ended on March 31, while Wall Street analysts had expected the company to register a slight loss. Investors soured on the San Francisco-based firm's shares, however, with word that the number of people playing Zynga games daily had dropped 21 percent to 52 million when compared to the same period a year earlier.

Zynga shares climb as game maker cuts losses

Zynga, the struggling social games pioneer, showed signs it is getting a grip on spending with an earnings report Tuesday revealing narrowing losses, which sparked an after-hours rally in shares. Zynga stock was up more than five percent to $2.88 a share after the firm reported that it lost $48.5 million on revenue of $311.2 million in the quarter that ended December 31. The revenue was little changed from the same period a year earlier, but the loss was a fraction of the $438 million lost in the final three months of 2011. The results topped Wall Street expectations.

Zynga shares climb as game maker cuts losses

Zynga, the struggling social games pioneer, showed signs it is getting a grip on spending with an earnings report Tuesday revealing narrowing losses, which sparked an after-hours rally in shares. Zynga stock was up more than five percent to $2.90 a share after the firm reported that it lost $48.5 million on revenue of $311.2 million in the quarter that ended December 31. The revenue was little changed from the same period a year earlier, but the loss was a fraction of the $438 million lost in the final three months of 2011. The results topped Wall Street expectations.
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