The creator of “Farmvlle”, the Zynga Inc., posted its quarterly results, higher than expected as the mobile gaming maker pushes forward with further releases like the “New Words with Friends.”
The California-based company’s shares jumped 8% to 2.36 dollars in the after-hours trade ending Thurday on the NASDAQ.
Expected bookings, which indicate future revenue, jumped 15% to 175 million dollars for the quarter ending September 30, beating Wall Street forecast. On average, analysts had estimated bookings to increase to 171.7 million dollars for the quarter, compared to the 152.11 million dollars the same quarter a year ago.
Based on non-GAAP, Zynga narrowed down its quarterly net loss of 7 million dollars, compared to the 16 million net loss a year ago. This result exceeded the analysts’ forecast of 8.09 million net loss based on non-GAAP.
Starting July 2013, the company experienced a chain of layoffs, overhauled its management unit, and instigated measures in controlling costs, while expanding its mobile games as sales from web offerings through Facebook declined last year.
The company’s mobile bookings account for the 55% of its overall quarterly bookings, jumping 111% since last year, and 5% gradually since the previous quarter. This result was helped by the growth in games like the “Hit It Rich!” and the “FarmVille 2″, which were launched during the second quarter.
Zynga emphasized its deferred revenue, or 2014 estimate for bookings ranging between 695 million dollars and 725 million.