Zynga (ZNGA) and Blizzard (ATVI) released their latest earnings reports after closing bell tonight. Zynga posted $194.3 million in revenue, compared to the consensus estimate $191.5 million in revenue. The game maker’s net losses narrowed to $9.5 million from the year-ago quarter’s net loss of $26.6 million.

Activision Blizzard reported non-GAAP earnings of 72 cents per share on $1.7 billion in GAAP net revenues, compared to the analyst estimates of 21 cents per share and $1.09 billion. In the same quarter a year ago, the company posted $1.46 billion in revenue and 58 cents per share in non-GAAP earnings.

Zynga shares rise after guidance beats

Zynga’s net losses amounted to $9.5 million, which beat its outlook and was an improvement of $17.1 million from the year-ago quarter. Deferred revenue grew $13.1 million, also beating management’s guidance. Bookings amounted to $200.4 million, beating the guidance, while adjusted EBITDA came in at $16.7 million, also beating guidance.

Mobile revenue grew 19% year over year to a new record, while mobile bookings increased 27%. Mobile online game or user pay revenue grew 31%, while mobile user pay bookings increased 40% year over year. Zynga’s mobile audience hit 18 million average daily active users, which was the strongest growth the game maker has seen in two years.

For the second quarter, the game maker expects revenue of about $200 million, net losses of about $6 million, bookings of approximately $205 million, and adjusted EBITDA of about $19 million.

Shares of Zynga surged in after-hours trade climbing by as much as 5.63% to $3.

Activision Blizzard  shares fall

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Activision Blizzard said GAAP earnings per share rose to a new record of 56 cents per share from 48 cents per share in the year-ago quarter. Digital channel GAAP net revenues rose 50% year over year to $1.39 billion. The GAAP operating margin was 29%, while the non-GAAP operating margin was 43%.

The game maker said it had 431 million monthly active users during the quarter, and Overwatch drove its first quarter results with its more than 30 million players globally. Blizzard’s online player community rose 58% year over year to 41 million, reaching its biggest size in its history. Activision had 48 million monthly active users, although its player base fell year over year due to unexpected softness from the Infinite Warfare release last year. King Digital had 342 million monthly active users in the first quarter, also a year over year decline.

For the second quarter, Activision Blizzard expects revenue to be around $1.425 billion, GAAP earnings to be about 15 cents per share, and non-GAAP earnings to be about 38 cents per share.

Shares of Activision Blizzard slumped by as much as 2.13%, falling as low as $51.97 following tonight’s earnings release.