Zynga Inc. (NASDAQ: ZNGA) stocks bolted Friday after the release of its first-quarter financial results and provided upbeat guidance.
The online game developer posted a loss of one cent per share – matching Street estimates -- and revenues of $194 million, missing consensus estimates of $196 million.
Mobile revenue and bookings were the highest in Zynga history, with mobile revenue up 19% year-over-year and mobile bookings up 27% year-over-year.
The company reported a 14.2% increase in bookings to $207.4 million in the quarter.
Analysts say Zynga now expects revenue of $200 million in the second quarter. Bookings are expected to come in at $205 million. Analysts were expecting Zynga to forecast bookings of $195.5 million.
The company said in February it paid $42.5 million for four Solitaire smartphone games created by HarpanLLC . Zynga released Boggle with Friends late in the quarter.
Thursday saw Zynga joining forces with and Time Inc.’s People, to announce the launch of Crosswords With Friends, Zynga’s latest addition to its With Friends games collection, which includes Words With Friends, one of the world’s most popular word games.
Zynga Inc. is the world's largest social game developer with users playing their games which include CityVille, FarmVille, FrontierVille, Words With Friends, Mafia Wars, Zynga Poker, Cafe World, and Treasure Isle. Zynga Inc. games are available on a number of global platforms including Facebook, MySpace, Yahoo, the iPad, the iPhone and Android devices.
The shares hiked 36 cents, or 12.7%, Friday near the close at $3.20. ZNGA stock is now up more than 10% year-to-date.
