Zynga’s Q1 2013 Revenues Drops 18% YOY
Zynga has reported their Q1 2013 revenues. Unfortunately, Zynga’s revenues declined 18% year-over-year to $264 million. In the same quarter last year, Zynga reported $321 million in revenues. The company is in the midst of investing more resources into mobile platforms. Analysts were expecting Zynga to generate around $209.8 million in revenues at a loss of 4 cents per share. For the quarter, Zynga reported a net income of $4 million.
“We are encouraged by the strong execution from our teams and the breakout hit performance of FarmVille 2, which captures the imagination of nearly 40 million players every month. 2013 will continue to be a transition year as we face the challenging environment on the web and invest in developing the leading franchises and network across web and mobile platforms and offer our 253 million monthly players a connected experience that can follow them from work to school to home and anywhere in between,” said Zynga CEO Mark Pincus in a statement today.
Zynga went through a rough year of cost cutting and studio closures throughout the last year. Fortunately, the company’s shares grew 35% since the beginning of the year. The company is now focused on mobile gaming, mid-core games, real-money games, and third-party publishing.
Zynga reported 52 million daily active users this past quarter, which is a decrease from the 65 million for the same period last year. The company also reported 253 million monthly active users, which is down 13% year-over-year from 292 million users.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry