Zynga's (NASDAQ: ZNGA) newly appointed CEO Don Mattrick appears to have a major fight on his hands following news the social gaming giant has lost almost 40 percent of its monthly player base across the course of the last year.
The firm's latest financials have revealed that revenue is falling at the company, down 31 percent year on year to $231 million for the three months ended 30 June.
More worrying, however, is the revelation that Zynga's mass of monthly active users has fallen to 187 million down from the 306 million it recorded during the same period in 2012.
Indeed, that represents the lowest number of monthly active users Zynga has recorded in a June quarter, also down on the June 2011 figure of 228 million.
Daily drop off
As you might expect, daily active users are also on the wane, down from 72 million during the same period in 2012 to 39 million today. That's a figure that's also below the 59 million daily active users Zynga had on board in June 2011.
The one piece of good news is that losses are down. While Zynga still recorded a net loss of $16 million for the quarter, that's less than the $22.8 million it lost during the same period in 2012.
"The next few years will be a time of phenomenal growth in our space and Zynga has incredible assets to take advantage of the market opportunity," said CEO Mattrick.
"To do that, we need to get back to basics and take a longer term view on our products and business, develop more efficient processes and tighten up execution all across the company. We have a lot of hard work in front of us and as we reset, we expect to see more volatility in our business than we would like over the next two to four quarters."
Zynga has also revealed its canned plans to obtain an online gambling license in the US, abandoning its efforts to make a move on the sector.
[source: Zynga]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Related Articles
News
Feb 13th, 2024
Mobile revenue exceeds Take-Two’s expectations, making over $2 billion in nine months
Top Stories
News
11 hours, 29 minutes ago
Cécile Russeil takes the helm at Ubisoft as EVP of comms, DEI, HR, and legal
Feature
12 hours, 46 minutes ago
"Gaming in MENA is just starting. Investment will bring more attention to the region and create more opportunities"
Feature
Apr 24th, 2024
48 top mobile games in soft launch: Squad Busters, CSR 3, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Events
Esports Future Summit | Middle East | Apr 27th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th | |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Popular Stories
News
Apr 23rd, 2024
Supercell’s Squad Busters soft launches today with over 100,000 Google Play downloads
Feature
Apr 24th, 2024