Zynga shares have surged 12% in pre-market trading after the social games company reported quarterly earnings that bested Wall Street expectations.
Zynga reported third-quarter revenue of $203 million and a loss of $68,000, well below the $35.6 million loss analysts had predicted.
Questions about the company’s health intensified over the summer after laying off more than 500 employees. It was the largest layoff in the company’s history.
And despite this morning’s surge, Zynga has not performed well on Wall Street since launching its initial public offering at $10. It’s currently trading at $3.95.
Also rising after upbeat earnings: Amazon and Microsoft. Shares of Amazon soared 7% off its third-quarter earnings results, which included a 24% boost in revenue.
Microsoft stock is up more than 6% after posting profits of $5.2 billion and $18.5 billion in revenue during the first quarter. This was the first quarter since Microsoft’s reorganization that splits the company between commercial and consumer services.