Zynga closing China studio as earnings disappoint

Zynga on Thursday announced it is closing its China studio as the social games pioneer reported earnings that disappointed investors. Zynga shares dropped more than 10 percent to $2.39 in after market trades that followed release of news that it lost $45 million in the final quarter of last year despite gaining ground on mobile devices. Closing operations in China, where Zynga has 71 employees, was expected to save the San Francisco-based company seven million dollars annually. Zynga chief execu