Zynga’s share price up 10% after a ‘less terrible than expected’ third quarter

Life and the stock market are all about managing expectations, and investors are rewarding social-gaming giant Zynga for surpassing its guidance for its fiscal third quarter.

Zynga’s share price is up more than 10 percent to $3.90 (NASDAQ:ZNGA) today following its quarterly financial results it revealed yesterday. The company reported a moderate loss on a GAAP (generally accepted accounting practices) basis of $68,000. Revenue was down 36 percent year-over-year to $203 million. Zynga did say that it expects to bring in a profit next year, and the company also hired DeNA’s Clive Downie to take over the chief operating officer position.