The Irish arm of online games maker Zynga plunged into the red last year to record losses of $50.79m (€37.4m).
According to accounts just filed by Zynga Game Ireland Ltd, the US firm's main unit here, the firm recorded the loss despite revenues rising by 38.5pc from $369.4m to $511.6m in the 12 months to the end of December last.
Zynga Game Ireland recording a pre-tax profit of $4.8m in 2011 – a negative swing of $55.5m.
The firm marginally increased its operating profits to $5.29m, but impairments of investments and intangible assets totalling $56.4m resulted in the pre-tax loss.
The revenues generated by the Dublin unit – which was only established in 2010 – accounted for 42pc of the corporation's worldwide revenues of $1.2bn in 2012.
The firm is a leading provider of social game services with more than 187 million monthly active users on platforms such as Facebook – down from 306 million monthly active users in 2012.
Some of Zynga's best known games include Farmville (pictured), Zynga Poker, Mafia Wars and CityVille and it had three of the top 10 games on Facebook as of June 30 last.