The West

Zynga jumps on buyback plan
Zynga jumps on buyback plan

Shares in social gaming pioneer Zynga have jumped more than 14 per cent with a quarterly earnings report that revealed a loss and a plan to buy back stock.

Zynga reported that it lost $US52.725 million ($A51.31 million) on revenue of $US316.637 ($A308.15) in the quarter ended September 30 and that it planned to repurchase $US200 million ($A194.64 million) worth of its shares.

The San Francisco-based firm's shares rose to $US2.43 on the news in after-market trading.

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