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Zynga: 4Q Earnings Snapshot

February 7, 2019 GMT

SAN FRANCISCO (AP) _ Zynga Inc. (ZNGA) on Wednesday reported fourth-quarter net income of $559,000.

The San Francisco-based company said it had net income of less than 1 cent on a per-share basis. Earnings, adjusted for stock option expense, were 2 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The maker of “FarmVille” and other online games posted revenue of $248.7 million in the period. Its adjusted revenue was $267.3 million, surpassing Street forecasts. Six analysts surveyed by Zacks expected $260.3 million.

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For the year, the company reported profit of $15.5 million, or 2 cents per share. Revenue was reported as $969.5 million.

For the current quarter ending in April, Zynga said it expects revenue in the range of $325 million. Analysts surveyed by Zacks had expected revenue of $222.4 million.

The company expects full-year revenue of $1.35 billion.

In the final minutes of trading on Wednesday, the company’s shares hit $4.51. A year ago, they were trading at $3.57.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZNGA at https://www.zacks.com/ap/ZNGA

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