Zynga Revenue is up, but Overall loss is $85 Million
Facebook game developer Zynga has posted its Q1 earnings report, stating that earnings are up to an impressive $321 million, though overall the company suffered a loss just shy of 85.35 million.
Other information released by the report revealed that the number of daily active users was up to 65 million. This represents a 3 million jump over this quarter last year. Monthly active users almost reached a third of a billion, sitting pretty at 292 million people.
When quizzed about the firm’s financial loss – despite revenue increase – CEO of Zynga Mark Pincus said that it was due to a larger investment expenditure.
“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,” he said.
While Zynga has continued steady growth, some of its newer titles, sequels to popular originals, like Mafia Wars 2, haven’t been anywhere near as well received as their earlier counterparts. It’s thought that the company plans to expand into mobile phones outside of Facebook.
Considering the popularity of titles like Farmville, it makes sense that the company would want to expand its potential audience.