Zynga has labelled the company’s turnaround complete after posting its best ever mobile revenue and bookings in Q4 2018.
The publisher’s mobile revenue increased 12 per cent year-on-year to $228 million for the three months ending December 31st 2018. Mobile bookings meanwhile grew 26 per cent from the same period the year prior to $248 million.
Revenue and bookings from users came in at $158m and $179m respectively. Advertising set records for Zynga, with mobile ad revenue up 23 per cent year on year to $69m and ad bookings up 20 per cent to $69m also.
Overall revenue for the publisher grew seven per cent to $249 million for the quarter. Profits on that sum amounted to $559,000 for the quarter.
The company though saw its best operating cash flow since Q4 2011 at $90m, up 241 per cent year-on-year.
For the entire year, Zynga revenue was up five per cent compared to 2017 at $907m. Bookings were up 14 per cent to $970 million. Overall net income for 2018 stood at $15m, down $11m year-over-year.
Mobile revenue alone counted for a record $816m of that figure, while mobile bookings amounted to $883m.
Highlights for Zynga included record quarters for titles Words With Friends, Merge Dragons and CSR 2.
It wasn’t all completely rosy for Zynga however. Zynga Poker mobile revenue was down seven per cent year-over-year and bookings dropped 14 per cent. The company blamed platform changes made by Facebook as one of the key reasons for the game’s decline.
Mobile revenue for Zynga’s social slots portfolio was down one per cent, while bookings remained flat.
Looking ahead, the publisher has big ambitions for its ‘forever franchises’ Words With Friends, Empires & Puzzles, Zynga Poker, Merge Dragons and CSR 2.
It also has a number of new games in the works including CityVille and FarmVille, fresh titles from Gram Games and Small Giant Games, as well as licensed apps based on the Game of Thrones, Harry Potter and Star Wars IPs.
“Zynga’s turnaround is now complete,” read a statement from Zynga CEO Frank Gibeau and CFO Ger Griffin.
“Our operating fundamentals are in place and we are entering 2019 with tremendous momentum.
“As a leading free-to-play, live services developer and publisher on the largest and fastest-growing platform in the world, we are uniquely positioned to capitalise on the rapidly evolving gaming landscape at a time when demand for interactive digital experiences is reaching new highs.”