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Zynga to cut 18% of staff despite beating Q1 forecast

7th May 2015 8:09 am GMT

Social gaming giant Zynga has seen revenue surpass forecasts for the first quarter of 2015, with returning chief executive Mark Pincus revealing a $100m cost-cutting plan as part of the latest strategy to revitalise the business.

First quarter revenue rose 9 per cent year-on-year to $183.3m, with bookings up 4 per cent to $167.4m, ahead of the projected range of $155m to $165m.

Pincus said that the results reflected the progress made by the company in [...]

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