Zynga up 13.9% on Q1 beat, paced by ad gains

• Zynga (ZNGA) is up 13.9% in after-hours trade after a break-even quarter where it edged profit expectations and grew mobile bookings substantially in a solid revenue beat.
• Advertising gains more than made up for a shortfall in game revenues. Adjusted EBITDA came in at $11M, vs. expectations for -$1.7M.
• Revenue breakout: Online game, $137.1M (down 7.4%); Advertising and other, $49.7M (up 40.6%).
• For Q2, the company's guiding to revenues of $170M-$180M (vs. $180M consensus) and non-GAAP EPS of -0.01 to break-even, vs. consensus for break-even. It's forecasting bookings of $160M-$170M and EBITDA of break-even to $5M (vs. consensus of $4.3M).
• Conference call to come at 5 p.m. ET.
• Press release