Zynga set to play its first hand as it posts fourth-quarter results Analysts expect Zynga to report revenue of $302m for the quarter ending December 31. Investors are waiting to find out how much real money social gaming firm Zynga makes from all its virtual cities and farms when the company reports its first results as a public company. The company behind CityVille, FarmVille and Words With Friends started trading on the Nasdaq stock market last December and its shares initially had a bumpy ride. Now the firm is benefiting from what analysts are calling the "Facebook halo." Social media giant Facebook is planning an initial public offering and as part of its regulatory disclosures revealed Zynga accounts for about 14% of the company's total revenues. Analysts expect Zynga to report revenue of $302m for the quarter ending December 31, according to consensus estimates from FactSet Research. The company had revenue of $195.8m in the same quarter a year before. If analysts are right, revenues will have risen 54%. Zynga's shares ended the day at $13.4 on Monday. Arvind Bhatia, an analyst at Sterne Agee, said he believes the company's shares are now way overvalued. He believes they are worth closer to $7. We think that their growth is slowing and their margins are under pressure. This run up has all been spurred by the Facebook IPO," he said. Facebook's valuation is not Zynga's. It's not a platform like Facebook. Zynga is much more dependent on Facebook than the other way around. Bhatia says Zynga relies on Facebook for 93% of its revenues and is not convinced that about games company's plans to make money from mobile games. But Michael Pachter of Wedbush Securities expects Zynga to beat Wall Street's consensus estimates for the quarter, citing "robust user growth." "This is a really, really new business and we don't have a lot of metrics to measure them by," he said. But he said growth at the company looked great and that he expected that to be reflected in growing revenues. The launch of games such as Adventure World and CastleVille in late 2011 and January launches including Hidden Chronicles, which had attracted recorded 18.7m monthly players by the end of January, should help the company outperform, said Pachter.