Online social games star Zynga on Thursday beat Wall Street earnings expectations with quarterly results showing it gained users and pumped up revenue.
Zynga posted net income of $47.05 million on revenue that climbed to $321 million from the $242.9 million seen in the first three months of last year.
The number of monthly "unique users" rose 25 percent to 182 million in a year-over-year comparison. The San Francisco-based company said it was investing heavily in developing new games.
"We're pleased with the progress that Zynga has made in the first quarter growing our audience reach 25 percent year over year and nearly 20 percent quarter over quarter," said Zynga founder and chief executive Mark Pincus.
"Our team did a great job launching five new games across mobile and Web including new hits like Hidden Chronicles, Slingo and Scramble with Friends."
Zynga reported that sales of virtual goods, referred to as "bookings," reached an all-time high of $329 million.
© 2012 AFP