Zynga sees Q1 FY12 revenue up 32% to $321 million
Social gaming company Zynga (NASDAQ: ZNGA) has announced its Q1 FY12 figures for the three months ending 31 March 2012.
Revenue was $321 million, up 32 percent year-on-year.
Of this 91 percent came from in-app purchases (up 27 percent) and 9 percent from in-game advertising (up 117 percent).
The company made a net loss of $85.4 million compared to a profit of $16.8 million 12 months ago.
However, this was because it includes $133.9 million of stock-based expenses.
Different angle
All these figures are given using the US standard GAAP accounting rules.
However, due to its business model, Zynga also provides booking revenues.
The difference is this takes into account all the cash its users spend during the period, whereas revenue figures amortise IAP sales over time, as when someone buys Facebook Credits, they generally don't spend it immediately.
Zynga saw booking revenue of $329 million, up 15 percent year-on-year.
Non-GAAP net income was £47 million, down 38 percent year-on-year.
On the up
The company says it expects to post full year bookings of between $1.425 billion to $1.5 billion, higher than it thought in February, with growth weighted towards the second half of the year.
It had bookings of $1.16 billion for 2011.
Zynga ended the quarter with cash, cash equivalents and marketable securities worth $1.5 billion, up $500 million from three months ago.
It generated $78.8 million in terms of cash flow from operations.
[source: Zynga]