Zynga Inc reported fourth-quarter revenues of $311 million on Tuesday, virtually unchanged from a year ago, as the company showed signs it is beginning to cope with a dramatic, months-long exodus of online gamers.

The game maker, whose titles include "CityVille 2," reported a quarterly profit of 1 cent per share on an adjusted basis, beating Wall Street expectations for a loss of 3 cents per share, according to analysts polled by Thomson Reuters I/B/E/S.

Zynga projected revenue will fall in the first quarter of 2012, to between $255 and $265 million, a roughly 20 percent decline from the same quarter in 2012.

Shares of Zynga rose 5.8 percent to $2.90 after-hours trade.

In October, Zynga's chief executive, Mark Pincus, laid off staff and announced $200 million in stock buybacks after the company forecast a loss for the December quarter.

(Reporting By Gerry Shih; Editing by Leslie Adler)