Zynga able to reduce losses

FACEBOOK game maker Zynga managed to stem its losses in the fourth quarter last year, even as its once-colossal revenue growth ground to a halt.

The US company, whose hits have included FarmVille and CityVille, reported a loss of $48.6m (£31m), against $435m in the same quarter last year.

Zynga has had to cut staff and close offices as people have not flocked to its games in the numbers once anticipated. Shares, which have plummeted since December 2011’s flotation, rose in after hours trading yesterday.