Zynga released financial results for the first quarter that ended March 31, 2022. Per Zynga’s CEO Frank Gibeau’s words the company achieved its highest ever Q1 advertising revenue and bookings led by its hyper-casual portfolio.
The CEO of Zynga also said: “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.”
In regards to revenue and bookings, the company had a solid start to the financial year. The report included the following statement:
“In Q1, we achieved revenue of $691 million, up 2% year-over-year, and quarterly bookings of $695 million, down 3% year-over-year. Online game or user-pay revenue was $538 million, down 3% year-over-year, and user pay bookings were $528 million, down 11% year-over-year. Advertising and other revenue was a Q1 record of $154 million, up 24% year-over-year, and advertising & other bookings reached its highest Q1 performance of $167 million, up 35% year-over-year.”Zynga CEO Frank Gibeau
Daily user engagement saw a 3% year-over-year increase averaging around 40 million players, while the average monthly engagement saw a 27% increase nearing 209 million active users. Mobile average bookings per mobile DAU of $0.190 were down 6% year-over-year per the report.
Zynga’s net loss for Q1 is $25 million
The company’s report mentions a net loss of $25 million, compared to a net loss of $23 million in the year-ago quarter. The statement also reports an operating cash outflow of $203 million versus a cash outflow of $164 million in the prior-year quarter.
Zynga acquired Rollic and Giant Games and completed the final earn-out payments during this three-month period as well. The report includes a side note, explaining that due to the pending transaction with Take-Two, they’re not hosting a conference call of providing any further guidance in connection for the time being. You can read the full financial report here.
Just last week, the current president of Zynga, Bernard Kim announced that he’s leaving Zynga to take over the helm at Match Group as the new CEO. The company is having an exciting Q1, that’s for sure.