SAN FRANCISCO (AP) _ Zynga Inc. (ZNGA) on Wednesday reported first-quarter net income of $5.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Francisco-based company said it had net income of 1 cent. Earnings, adjusted for stock option expense, were 2 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 2 cents per share.
The maker of "FarmVille" and other online games posted revenue of $208.2 million in the period. Its adjusted revenue was $219.5 million, which beat Street forecasts. Four analysts surveyed by Zacks expected $213.6 million.
For the current quarter ending in July, Zynga said it expects revenue in the range of $218 million. Analysts surveyed by Zacks had expected revenue of $222.4 million.
In the final minutes of trading on Wednesday, the company's shares hit $3.64. A year ago, they were trading at $2.91.
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