Zynga: First report shows strong growth

NEW YORK -- Online game maker Zynga (ZNGA) says it booked a net loss in the fourth quarter, weighed by hefty stock-compensation expenses and other costs in its first quarter as a public company.

Zynga lost $435 million, or $1.22 per share, in the period. That's down from earnings of $16 million, or 5 cents per share, a year earlier.

Adjusted earnings were 5 cents per share, beating analyst expectations. This excludes $510 million in stock compensation expenses triggered by the IPO.

Revenue rose 59 percent to $311 million as Zynga grew its user base, ad revenue and the money it makes from games such as "FarmVille" and "CityVille." 

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Analysts surveyed by FactSet expected Zynga to earn 3 cents per share on revenue of $302 million. Zynga's stock is declining after-hours.