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Gaming company Zynga posts $22.8 million loss
 
Farmville's wild popularity on Facebook, along with the recent rash of successful tech IPOs, has reportedly inspired Zynga to file an initial public offering by early June.
Farmville's wild popularity on Facebook, along with the recent rash of successful tech IPOs, has reportedly inspired Zynga to file an initial public offering by early June.
CC BY: tarikgore1

Online social gaming company Zynga, creator of time-sucks like Farmville and Words with Friends, reported a $22.8 million loss for the second quarter on Wednesday. Shares of the company fell 40 percent in after-hours trading. The big loss does not bode well for Facebook, which depends heavily on Zynga for revenue and is set to post earnings Thursday.

 

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