Apple's iPhone Silences Doubters: Tech Weekly

Zynga(ZNGA) reported a 32% increase in revenue when it reported first-quarter results on Thursday, but losses accelerated due to rising costs.

On a GAAP basis, Zynga reported a loss of $85.4 million, or 12 cents a share, down from net income of $16.8 million in the same period last year. Zynga said that $133.9 million of stock-based expense was included in the net loss for the March quarter, compared to $14.5 million in the prior year's quarter.

Excluding items, however, Zynga reported EPS of 6 cents on $321 million in revenue. Analysts surveyed by Thomson Reuters were looking for EPS of 5 cents on sales of $317.3 million.

Shares of Zynga closed the week down 7.59% at $8.52.

AT&T(T) beat analysts' first-quarter earnings estimates on Tuesday, thanks in part to strong wireless sales and its smartphone business.

AT&T generated EPS of 60 cents, better than the 57 cents Wall Street was looking for. Revenue came in at $31.82 billion, slightly less than the $31.85 billion average estimate of analysts polled by Thomson Reuters. Wireless revenue, including equipment sales, came in at $16.1 billion. Wireless data revenue climbed 19.9% to $6.1 billion.

The Dow component noted that both Android and iPhone sales remain strong, with 4.3 million iPhones activated during the quarter.

Shares of AT&T gained 5.87% during the week to close at $32.67.

Shares of Symantec(SYMC) fell sharply Tuesday after the Internet security stalwart reported weaker-than-expected preliminary fourth-quarter results.

Symantec said it now expects fourth-quarter EPS of 38 cents on $1.68 billion in revenue. That's down from the company's previous guidance of between 41 cents and 42 cents a share. Revenue was expected to come in between $1.72 billion and $1.73 billion. Analysts surveyed by Thomson Reuters were looking for earnings of 42 cents a share on sales of $1.73 billion.

Shares of Symantec slid 9.2% during the week to end at $16.48.