Zynga down slightly after mixed report, wider than expected loss

Zynga (ZNGA) posted a mixed report for Q4 earnings, with a slightly wider than expected loss but bookings that grew 11%. Shares are down 0.8% after hours.
GAAP revenues came to $190.5M, up 3% Y/Y and beating expectations. Net loss narrowed Y/Y to $35.4M.
Adjusted EBITDA (including a change to deferred revenue) was $10.6M, lower than an expected $17.7M.
Average daily active users grew 1% to 18M, paced by mobile growth. Mobile revenues were $154.7M (up 20% Y/Y), making up 81% of overall revenue. Average mobile daily active users grew 5% to 16M.
Average monthly active users came to 63M (down 7%); mobile MAUs of 53M and Web MAUs of 10M. Average daily bookings per average DAU were $0.12, up 9%, and payer conversion rate rose to 2.2% from a year-ago 1.7%.
For Q1, the company's projecting GAAP revenue of $185M and (non-GAAP) bookings of $190M. It sees a net loss of $16M and net loss per share of about $0.02, in line with expectations.
Q1 adjusted EBITDA is projected at $14M, light of an expected $21.4M.
Conference call to come at 5 p.m. ET.
Press Release