Gaming firm Zynga reports increased losses; shares fall by 10%
February 13 , 2015
Gaming company Zynga’s shares dropped over 10% during after-hours trade on Thursday after it reported increased losses.
The Farmville-maker posted a fourth quarter loss of $45 million, a 79% rise compared to the same period in the previous year, as it struggles to attract new users.
The firm said it is closing its China studio, which will cause the loss of more than 70 jobs. But Don Mattrick, the chief executive, described 2014 as a “year of progress”.