Zynga Tops Profit, Sales Estimates as Game Maker Cuts Costs
This article is for subscribers only.
Zynga Inc., the biggest maker of online social games, reported fourth-quarter profit and sales that surpassed analysts’ estimates as it cut costs faster than demand fell for virtual goods.
Sales totaled $311.2 million, unchanged from a year earlier, the San Francisco-based company said yesterday in a statement. Analysts on average predicted revenue of $250.2 million, according to data compiled by Bloomberg. Before certain items, the company posted a profit of 1 cent a share, compared with projections for a 3-cent loss.