Zynga to Lose Up to $105M In Q3, Slashes 2012 Forecast - News
by William D'Angelo , posted on 04 October 2012 / 9,581 Views
Zynga has released its preliminary numbers for its third quarter, which ended on September 30, 2012. Zynga expects to report revenue between $300 million and $305 million and losses between $90 million and $105 million. The majority of the losses are due to the acquisition of Omgpop, the Draw Something developer, in which the company had to write off $85 million to $95 million.
Zynga has also lowered its project for its full 2012 fiscal year. The company now expects its booking in the $1.085 billion to $1.100 billion range, down from $1.150 billion to $1.225 billion.
"The third quarter of 2012 continued to be challenging and, while many of our games performed to plan, as a whole we did not execute to our satisfaction," said Mark Pincus, CEO and Founder, Zynga. "We're addressing these near-term challenges by implementing targeted cost reductions in the fourth quarter and rationalizing our product R&D pipeline to reflect our strategic priorities."
"At the same time, we are continuing to invest in our mobile business where we have one of the strongest positions in the industry," Pincus continued. "These actions support our strategy to transition from being a first party web game developer to a multiplatform game network."
"We remain optimistic about the opportunity for social gaming and the power of our player network of 311 million monthly active users," added Pincus. "When we offer our players highly engaging content, they respond. FarmVille2 has been our most successful launch since CastleVille in terms of daily bookings, and we now offer 3 of the top 5 most popular mobile games in the U.S. in terms of time spent according to Nielsen."
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Am I a terrible person if I see this as good news?
no, zynga is just horrible this is very good news, i hope they go bankrupt
was I the only one who was..... NSFWing it to this news? :D
Zynga are all that is wrong with the gaming industry. Cheap rip-off company catering for sheep with endless micro-transactions. Image of a trough with people eating out of it comes to mind.
Most of their titles are ripped from classic board games. I have never played Farmville but it is probably safe to assume that is just a crappy ripoff of SimFarm.
now now Zynga are nothing but original if you don't like Farmville, farmville2 , fishville, forestville, petville, yoville,castleville, cityville, cityville holiday town, cityville hometown and of course we can't forget The Ville. then you just don't know gaming. Only about half of their games at the moment are involved in class action lawsuits for copying other peoples works the big one they turned angry being EA for cityville..... oh wait I put the word but at the top of this reply... damn can't edit it now :D
Hell yes. I hope this keeps up. The death of Zynga wouldn't be a bad thing for anybody.
DIE CASUAL GAMING!!...DIE!!! DIE!!!
clicking on a cow once a day isn't any kind of gaming, it is just retarded.
