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.