Social games company earnings at five cents a share, but GAAP earnings down
Zynga has released its quarterly earnings report, which shows it has done better than estimates had suggested, but took a heavy hit in GAAP earnings due to compensation for employee stock options.
The social media company is the largest publisher on Facebook, and launched its IPO in December of 2011.
This first ever quarterly earnings report puts Zynga non-GAAP earnings at five cents a share, two cents higher than had been predicted.
GAAP earnings, on the other hand, were down 36 per cent due to $510m of non-cash compensation given to employees for restricted stock triggered by the IPO in December.
Bookings for the quarter were up 26 per cent from last year, and seven per cent from last quarter, weighing in at $306.5m.
Full year bookings were $1.16b, up 38% over last year, and revenues were up 91 per cent to $1.14b.
Analysts have predicted that a strong showing for Zynga could mean a good quarter for Facebook, which derives 14 per cent of its revenue from the social games giant.
The full quarterly reports is available here.