Social gaming operator Zynga turned in better than expected numbers in its first financial report under new CEO Frank Gibeau.

In the three months ending March 31, Zynga revenue rose 1% to $186.7m but aggressive cost-cutting measures cut the company’s quarterly loss by 43% to $26.5m.

Game revenue totaled $137m, down 7% year-on-year but up 6% from Q4 2015. Advertising and other revenue totaled $50m, up 41% year-on-year but down 12% sequentially.

Bookings, the in-game sales of virtual goods to players, were up 8% year-on-year to $181.6m, although flat sequentially. Mobile bookings were up 31% year-on-year to $139m, accounting for 76% of total bookings.