Zynga (ZNGA) is trading down in initial after-hours trading, but the Q4 results were about as expected. Mobile bookings grew 21% YoY without any big releases during Q4. If not for the continued decline in the web business, investors would view Zynga as a growth company. The market will focus on the bookings guidance, but using the typical beat the guidance is close to inline with the expectations of $172 million. The company had 6 games in testing that should boost revenues in 2016 with a prime focus on the releases of Dawn of Titans and CSR2. Disclosure: Long ZNGA.