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Zynga reports 2% revenue increase to $691 million for Q1 2022

CEO Frank Gibeau attributes first quarter financial performance in part to company's hyper-casual game offerings

Today game publisher Zynga released its first quarterly earnings of 2022, for the three months ended March 31.

The company reported its highest ad revenue and bookings for Q1. At $691 million, Zynga's revenue was up 2% year-over-year when compared to last year.

Its bookings amassed $695 million, which represented a decline of 3% year-over-year compared to the same period last year.

"We started off 2022 with a strong quarterly performance, achieving our highest ever Q1 advertising revenue and bookings led by our hyper-casual portfolio," said CEO of Zynga Frank Gibeau.

"Through continued execution across all aspects of our multi-year growth strategy including live services, new game development and investments in our advertising platform, new markets and technologies, we are strengthening our position as a leading mobile-first, free-to-play live services company."

Engagement during the quarter was up, with the company's 40 million monthly active users representing an increase of 3% year-over-year.

Zynga's report went on to say that the company posted losses of $25 million, whereas during this period last year it saw a net loss of $23 million.

In addition, the company's financial reports noted that it didn't host a conference call, as a result of it being acquired by Take-Two Interactive for $12.7 billion.

"Due to the pending transaction with [Take-Two Interactive] announced on January 10, 2022, Zynga is not hosting a conference call or providing forward guidance in connection with the release of its quarterly results," the company said.

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Jeffrey Rousseau avatar
Jeffrey Rousseau: Jeffrey joined in March 2021. Based in Florida, his work focused on the intersectionality of games and media. He enjoys reading, podcasts, staying informed, and learning how people are tackling issues.
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