Zynga Reports a Strong First Quarter of 2012 - News
by William D'Angelo , posted on 26 April 2012 / 4,162 Views
Zynga has reported on its financial results for the first quarter 2012. Revenue was $321 million, an increase of 32 percent compared to the same quarter a year ago. It's Player Network grew 25 percent to 182 million monthly unique users.
"We’re pleased with the progress that Zynga has made in the first quarter growing our audience reach 25% year over year and nearly 20% quarter over quarter. Our team did a great job launching 5 new games across mobile and web including new hits like Hidden Chronicles, Slingo and Scramble with Friends," said Mark Pincus, CEO and Founder of Zynga.
Zynga grew its mobile and web based games, as it added six games during the quarter, which include the web-based games Hidden Chronicles and Zynga Slingo, as well as mobile games Scramble with Friends, Dream PetHouse, Dream Heights, and Draw Something, which was acquired in March. Zynga had eight of the top ten games on Facebook and launched its own Zynga platform in March.
For the rest of 2012 Zynga expects its bookings to reach around $1.5 billion, with the strongest growth in the second half of the year.
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"That's weird, a financial report with no mention of profit?"
That's because they made NO PROFIT (while revenue went up by 32%). They just spent lots and lots of money.
Correction, last quarter: http://www.google.com/finance?q=NASDAQ:ZNGA&fstype=ii#
I thought the same thing, ebow. Last year they lost half a billion dollars so its probably not looking good.
That's weird, a financial report with no mention of profit?
Nothing strong about this report, please update headline to "Zynga contiues to struggle with monitization of casual games."
What's also intersting is that Zynga's bosses are currently in the process of selling off as many of their shares as they can. Very confidence-inspiring.
LOL, they launched 5 games, yet they barely made any new users? :)) I cant wait until this Zynga fad is over, and all who work there get fired, for the abominations they are working on...
