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Zynga Reports Q1 Loss

(RTTNews) - Zynga Inc. (ZNGA) Wednesday reported first-quarter net loss of $128.8 million or $0.14 per share, compared to net income of $5.6 million or $0.01 per share last year.

Analysts polled by Thomson Reuters estimate earnings of $0.05 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter grew 27% to $265.4 million from $208.2 million last year. Analysts had a consensus revenue estimate of $326.53 million.

Bookings of $359 million, up 64% year-over-year

"We are beginning 2019 with tremendous momentum delivering outstanding Q1 results including our highest mobile revenue and bookings quarter ever. Our focus on growing our live services portfolio is working. In particular, Empires & Puzzles, Merge Dragons! and CSR2 delivered strong revenue and record bookings in the quarter, while Words With Friends achieved its best Q1 revenue and bookings," the company said in a statement.

In the second quarter, Zynga expects revenues of $280 million, up $63 million or 29% year-over-year.
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