Agence France-PresseFebruary 5, 2013 18:16
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.