Social gaming giant Zynga has made a surprise profit in the first quarter of 2013 but continues to warn of harder times to come.
The Q1 2013 results show a profit of $4.1m - less than a penny a share - compared with a loss of $85.4m, or 12 cents a share, for the same period of 2012. Although stock is this year up by around 40 per cent, the latest projections for a weak second quarter had an immediate effect on the share price, which fell by 13 per cent to $2.90.
As the company has struggled to maintain early momentum, Zynga has sought to significantly cut costs in the face of falling sales. Perhaps most worryingly, daily active user numbers fell starkly again, down to 52 million from 56 million in the previous quarter and down from 65 million a year earlier.
