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News Summary: Zynga 4Q loss narrows, costs fall

Published on NewsOK Modified: February 5, 2013 at 9:03 pm •  Published: February 5, 2013

SMALLER LOSS: Online games company Zynga said its loss narrowed in the latest quarter even though revenue was largely unchanged as the company cut expenses by laying off workers, closing offices and shutting down poorly performing games.

STRONGER THAN EXPECTED: The results exceeded Wall Street's muted expectations, and Zynga Inc.'s battered shares rose nearly 7 percent in after-hours trading.

OUTLOOK: For the current quarter, Zynga said it expects an adjusted loss of 5 cents to 4 cents per share and revenue of $255 million to $265 million. Analysts were predicting a loss of 1 cent per share and revenue of $268 million.