Zynga Inc (ZNGA) Saw A $15.8 Million Loss For Q2
Zynga Inc (NASDAQ:ZNGA) has reported their second quarter results today. The company reported a $15.8 million loss for the three months ended June 30th. The company brought in $213 million in revenues. Unfortunately, revenues for the quarter was down 31% year-over-year for the same period last year. Zynga generated around $332 million in revenues during the same period last year.
Zynga also reported a decline in the number of daily active users that play their games for the quarter. In the same period last year, Zynga had around 72 million daily users. Now the company has only 39 million daily active users, which is a 45% drop. In Q1 of this year, Zynga lost around 24% of their daily active users.
The company’s monthly unique and monthly active users were also down year-over-year. They saw declines of 36% (monthly unique) and 39% (monthly active users).
“The next few years will be a time of phenomenal growth in our space and Zynga has incredible assets to take advantage of the market opportunity,” stated newly appointed Zynga CEO Don Mattrick. “To do that, we need to get back to basics and take a longer term view on our products and business, develop more efficient processes and tighten up execution all across the company. We have a lot of hard work in front of us and as we reset, we expect to see more volatility in our business than we would like over the next two to four quarters. I’m privileged to lead Zynga and I look forward to spending more time with our players, employees and shareholders.”
Zynga launched six games during this quarter including Hidden Shadows, War of the Fallen, Draw Something 2, Battlestone, Solstice Arena, and Running with Friends. The company is also launching a restructuring plan that will see 520 jobs eliminated.