Zynga Loses $46M in Q1 2015

7th May, 0 replies

Zynga

Zynga has released its earnings reports for the first fiscal quarter of 2015, which ended on March 31. Revenue is down nine percent year-over-year to $183 million. Losses decreased to $46 million, from $61 million a year ago.

"In Q1, we delivered results above our guidance generating $167 million in bookings and Adjusted EBITDA of $2 million. Our Q1 results reflect the progress we have made in our transition to mobile which now represents 63 per cent of total bookings - up 84 per cent year over year.

Zynga remains focused on our mission of connecting the world through games, which is even more relevant and possible today. Our execution is focused in three areas - our products, where we're backing proven teams against the most valuable game categories; our people, to foster creative entrepreneurs; and our plan in order to fund our future with focus and simplicity."

Zynga plans to launch between six and eight games this year focused on Action Strategy, Social Casino, Invest and Express, Casual, and Racing. For the second quarter the firm expects revenue between $175 million and $190 million, and a loss between $50 million and $54 million.

Source:

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