Investors got good news from Zynga on Thursday afternoon -- or at least some not-so-bad news.
Shares of the social gaming company surged 12% in after-hours trading Thursday after it reported third-quarter sales of $202.6 million, beating the analyst projection of $187.9 million. The company also posted a smaller-than-expected loss -- $16 million, or two cents a share, against a projection of four cents.
Zynga(ZNGA) CEO Don Mattrick said the company is "working hard to compete more aggressively on the web, move to mobile and develop new hits, and I am happy with the early progress we have made."
Zynga announced multiple rounds of layoffs earlier this year, and co-founder Mark Pincus stepped down as CEO at the beginning of July.
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The company raised hopes among investors last year by applying for an online gambling license, exploring a new potential revenue source. But Zynga dropped those plans in July, focusing on its core social gaming business.