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Zynga shares surge to their highest point since mid-2014 after promising Q1 earnings

Zynga shares surge to their highest point since mid-2014 after promising Q1 earnings

Shares in Zynga shot up to $3.20 on Friday, May 5th following promising earnings and forecasts in its Q1 2017 financial report.

The uptick following last week's financials puts Zynga’s shares at the highest they have been since July 2014.

The mobile games publisher’s latest report saw revenues rise 4% year-on-year and 2% quarter-on-quarter to $194.3 million.

Mobile bookings also rose from $139 million in Q1 2016 to $176 million in Q1 2017, though mobile made up a greater share than previously.

The number of daily average users across its portfolio also rose 16% year-on-year and 17% quarter-on-quarter to 18 million. That’s its highest of the year.

Promising forecasts

Zynga’s forecasts for Q2 2017 now predicts around $200 million in revenue for the quarter and $205 million in bookings, with a net income loss of $6 million.

Zynga’s recovery on its earnings since its Facebook heyday appears to be speeding up - something that seems to have pleased investors.

PocketGamer.biz Contributing Editor Jon Jordan showed in March 2017 that Zynga is now generating more mobile GAAP revenue than EA Mobile.


Senior Editor

Craig Chapple is Senior Editor of PocketGamer.biz. He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.

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