RTTNews | Feb 10, 2021 09:29PM EST

21:28 Wednesday, February 10, 2021 (RTTNews.com) - Zynga Inc. (ZNGA) reported that its fourth-quarter net loss widened to $53.0 million or $0.05 per share from last year's $3.5 million or break even per share, primarily due to the higher net increase in deferred revenue, amortization of acquired intangibles, partially offset by improved operating performance and lower contingent consideration expense.

Quarterly revenue was $616 million, up 52% year-over-year. Bookings were $699 million, up 61% year-over-year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.09 per share and revenues of $677.73 million for the fourth-quarter. Analysts' estimates typically exclude special items.

Looking ahead for the first-quarter, the company expects $635 million in revenue, up $231 million or 57% year-over-year, with bookings of $680 million, up $255 million or 60% year-over-year.

For 2021, the company expects to deliver revenue of $2.6 billion, up 32% year-over-year, and bookings of $2.8 billion, up 23% year-over-year. Execution of 2021 plan will position Zynga for continued growth in 2022, where it expects low double-digit topline organic growth as well as improved operating leverage from its live services portfolio, which will include full year contributions from our 2021 new game launches.

Over the next several years, the company expects to continue to scale business and progress toward achieving its longer-term operating margin goals.

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