News

Zynga posts profit for second consecutive quarter for first time since IPO

Zynga posts profit for second consecutive quarter for first time since IPO

Zynga has posted a profit of $18.1 million for the three months ending September 30th marking its second consecutive profitable quarter.

Profits were up $59.8 million year-on-year in Q3 2017, after the company reported a loss of $41.7 million in Q3 2016.

This is the first time the publisher has posted two consecutive profitable quarters since it went public in December 2011, having generated $5.1 million in earnings in Q2 2017.

Bouncing back

Zynga has also claimed its best revenue and booking performance in over four years. Revenues came in at $224.6 million, with mobile accounting for some $194.4 million. This figure was up 23% year-on-year and smashed its forecasts by $14.6 million.

Bookings were $213.5 million, up 9% compared to Q3 2016 and above its guidance by $8.5 million

Zynga said its strong performance was driven by games such as Zynga Poker, Words With Friends and CSR Racing 2.

The publisher has expanded its portfolio further by purchasing Peak Games’ mobile card game studio, and titles such as Gin Rummy, Spades and Whist, for $100 million.

Zynga said it will continue to develop new games in the action strategy, casual and ‘invest express’ categories. Titles in some or all of these categories are set to be released in the second half of 2018.

On top of this Zynga also aims to invest in emerging platforms such as chat apps and augmented reality. It’s already set to launch a new feature in CSR Racing 2 that will harness Apple’s ARKit to bring players’ in-game car collections to life.


Senior Editor

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

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies
Important information

This site uses cookies to store information on your computer. By continuing to use our site, you consent to Steel Media's privacy policy.

Steel Media websites use two types of cookie: (1) those that enable the site to function and perform as required; and (2) analytical cookies which anonymously track visitors only while using the site. If you are not happy with this use of these cookies please review our Privacy Policy to learn how they can be disabled. By disabling cookies some features of the site will not work.