Zynga has released its financial results for the third quarter of 2012, and while business-wide revenue is up year-over-year - $316 million vs. $306 million over the same period last year - net income has fallen by a significant margin. Specifically, the social-gaming developer has reported a loss of $52.7 million over the course of Q3 2012, as compared with the $12.5 million in profit it posted during the same period last year.

The picture is much the same for the company's year-to-date financial situation, which places total revenue for 2012 at $970.1 million (well above 2011's $828.8 million), but still reports an overall loss of $160.8 million. By this time last year, Zynga was in the black to the tune of $30.6 million dollars.

The statement also makes mention of yesterday's events, with the closure of Zynga Boston and significant reduction of staff at Zynga Austin, both of which were part of a grander Cost Reduction Plan: "Zynga expects to complete a reduction in force of approximately 150 employees or approximately 5 percent of its current workforce, and implement additional cost reduction measures, including steps to rationalize its product pipeline, reduce marketing and technology expenditures and consolidate certain facilities."