Zynga's Q1 shows revenues up but net loss totals $85m
Zynga managed to beat Wall Street's estimates for the quarter
Social games giant Zynga has issued its first-quarter earnings report for the period ended on March 31, 2012, and while revenue climbed 32 percent to $321 million, the company recorded a net loss of $85.35 million.
That said, Zynga also had record bookings of $329 million, up 15 percent year-over-year, and users were up in several categories:
- Daily active users (DAUs) increased from 62 million in the first quarter of 2011 to 65 million in the first quarter of 2012, up 6% year-over-year.
-Monthly active users (MAUs) increased from 236 million in the first quarter of 2011 to 292 million in the first quarter of 2012, up 24% year-over-year.
- Monthly unique users (MUUs) increased from 146 million in the first quarter of 2011 to 182 million in the first quarter of 2012, up 25% year-over-year.
Zynga blamed some of its earnings softness on "increased investment in new game development."
"We're pleased with the progress that Zynga has made in the first quarter growing our audience reach 25% year over year and nearly 20% quarter over quarter. Our team did a great job launching 5 new games across mobile and web including new hits like Hidden Chronicles, Slingo and Scramble with Friends," said Mark Pincus, CEO and Founder of Zynga.