Zynga’s third-quarter loss narrowed as the social-game maker continued to slash expenses, though usage continues to decline, with monthly active users down 57 percent from a year ago.
The stock, which has fallen sharply from its initial public offering price of $10 a share in late 2011, rose 15 percent, to $4.06, after hours as the adjusted loss and bookings topped the company’s own forecast.
For the current quarter, Zynga projected an adjusted loss between 4 cents and 5 cents a share on bookings of $130 million to $140 million.
Analysts polled by Thomson Reuters were recently looking for a loss of 3 cents on $147.9 million in bookings.
Zynga, which counts “Farmville” and “Words with Friends” among its games, said in June that it would cut 18 percent of its staff and close some offices to cut expenses.
For the latest quarter, Zynga reported a loss of $68,000, or less than a penny a share, compared with a prior-year loss of $52.7 million, or 7 cents a share.
Zynga had projected an adjusted loss of 5 cents to 9 cents a share.