Tallahassee Journal

Zynga slides off weak Q4 earnings

Zynga slides off weak Q4 earnings

Shares of Zynga sunk more than 12% in pre-market trading off a lackluster fourth quarter earnings report showing additional losses. Zynga reported a fourth-quarter loss of $45 million, higher than the same time last year, with revenue reaching $192 million.AP ZYNGA EARNS F A USA CA

Its outlook was equally disappointing. The company forecasts first-quarter revenue between $155 million and $165 million. Analysts expected $201 million, reports The Wall Street Journal.

Zynga has focused heavily on mobile since CEO Don Mattrick took over in 2013. During the fourth quarter, mobile bookings — money spent by customers — represented 60% of total bookings, while their fourth quarter monthly mobile audience surged 87% compared to the previous year.

The company struck several deals to revamp their mobile offerings, including partnerships with the NFL on a football manager game for smartphones and Warner Bros. for a game based on the classic cartoon series Looney Tunes. Later this year, Zynga launches a golf game as part of a partnership with Tiger Woods.