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April 27, 2012 12:19 am GMT

Zynga Beats Estimates With Revenues Of $321 Million As Mobile Fuels Most Of Its Bookings Growth

zynga-logoZynga's revenues rose 32 percent to $321 million in the first quarter, beating analysts' estimates of $316.8 million in revenue and earnings of 5 cents a share excluding stock-based expenses. Bookings* came in at a record $329 million, up 15 percent over the year before, and up 7 percent compared to the previous quarter -- meaning Zynga didn't see that seasonal decline in revenues that Facebook did.The company also raised its annual guidance to $1.425 billion to $1.5 billion in bookings, up from $1.35 to $1.45 billion. Shares are down 1 percent in after-hours trading to $9.33. Excluding stock-based expenses of $133.9 million, Zynga posted earnings per share of 6 cents or $47 million, which would be down 38 percent from the year before. Including those expenses, Zynga had a net loss of $85.4 million.

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