Once-popular social games publisher and developer Zynga revealed their financial results for the quarter, and detailed that it lost $15.8 million (£10.2m) in only three months – ending in 30 June 2013.
“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. 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” said newly-appointed CEO Don Mattick.
According to Polygon “Zynga also posted declines in the number of daily active users that play its games during Q2. Last year, Zynga boasted 72 million daily users in its second quarter; this year, just 39 million, a 45 percent drop. From Zynga’s Q1 of this year, the company shed 24 percent of its daily active users.”
While the company has taken a hit in terms of revenue and monthly users, Mattick is still optimistic about the future of the company – who popularised social games such as FarmVille and PetVille.
“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. I’m privileged to lead Zynga and I look forward to spending more time with our players, employees and shareholders.”
Charlie Fripp – Consumer Tech editor