Wednesday, August 02, 2017 6:52:05 PM
OPERATING CASH FLOW WAS ITS BEST IN FIVE YEARS, AT $37.8M.
ZYNGA SWUNG TO A PROFIT ON DOUBLE-DIGIT REVENUE GAINS AND ADDED MOBILE USERS AND REVENUES AT A HEALTHY RATE.
BIG NEWS IS THAT THE COMPANY REPORTED A PROFIT FOR THE FIRST TIME IN WELL OVER A YEAR
After a lengthy losing streak, Zynga is profitable again
AUGUST 2, 2017 | BY ALEX WAWRO
Struggling social/mobile game company Zynga posted earnings for its most recent quarter today, and the BIG NEWS IS THAT THE COMPANY REPORTED A PROFIT FOR THE FIRST TIME IN WELL OVER A YEAR.
THE FACT THAT ZYNGA REPORTS EARNING $5.1 MILLION (GAAP) IN PROFITS (ON $209 MILLION IN REVENUES) DURING THE THREE MONTHS ENDING JUNE 30TH IS NOTABLE because the company has been reporting significant losses for quite some time, even as revenues from games like Zynga Poker and CSR Racing have risen and fallen.
ZYNGA CHAMPIONS MOBILE GAMES AS THE CHIEF DRIVER OF ITS RETURN TO (GAAP) PROFITABILITY, noting in a letter to investors that Q2 revenue from mobile games was up 33 percent year-over-year, now accounting for 86 percent of the company's total revenue.
"WE BELIEVE THERE’S MORE OPPORTUNITY TO UNLOCK VALUE WITH OUR MOBILE FRANCHISES AND ARE INVESTING IN BOLD BEAT ROADMAPS FOR 2017 AND 2018," reads an excerpt of the letter. "In addition to live services, new title development will continue to play an important role at Zynga. Looking forward to 2018 and beyond, we’re actively developing new games in categories such as Action Strategy, Casual and Invest Express."
("Invest Express", of course, is a term used at Zynga for games like FarmVille: Tropic Escape.)
Source:
gamasutra.com/view/news/302962/After_a_lengthy_losing_streak_Zynga_is_profitable_again.php
Source:
http://www.nasdaq.com/press-release/zynga-announces-second-quarter-2017-financial-results-20170802-01562
ZYNGA +4.2% AS MOBILE GAINS DRIVE SWING TO Q2 PROFIT
AUG. 2, 2017 4:50 PM ET|ABOUT: ZYNGA (ZNGA)|BY: JASON AYCOCK, SA NEWS EDITOR
ZYNGA (NASDAQ:ZNGA) HAS MOVED UP 4.2% AFTER HOURS, QUOTING PENNIES OFF ITS 52-WEEK HIGH, FOLLOWING Q2 EARNINGS WHERE IT SWUNG TO A PROFIT ON DOUBLE-DIGIT REVENUE GAINS AND ADDED MOBILE USERS AND REVENUES AT A HEALTHY RATE.
REVENUE ROSE 15% AND BOOKINGS WERE UP 20% OVERALL. MOBILE REVENUE NOW MAKES UP 86% OF THE TOTAL, VS. 76% A YEAR AGO. Mobile bookings make up 87% of the total (vs. 78% last year).
IN PLAYER METRICS, AVERAGE DAILY ACTIVE USERS ROSE 17% TO 21M (19M MOBILE DAUS, UP 28%; 2M Web DAUs, down 32%). AVERAGE MONTHLY ACTIVE USERS ROSE 32% TO 80M (71M MOBILE, UP 45%; 9M Web, down 23%).
AVERAGE DAILY BOOKINGS PER AVERAGE DAU INCHED UP 2% TO $0.109. AVERAGE MONTHLY UNIQUE PAYERS ROSE 33% TO 1.2M, AND PAYER CONVERSION ROSE 28% TO 2.3%.
OPERATING CASH FLOW WAS ITS BEST IN FIVE YEARS, AT $37.8M.
For Q3, it's guiding to revenue of $210M (above an expected $207M), bookings of $205M, net income of $7M and EBITDA of $30M (above consensus for $20M).
Source:
https://seekingalpha.com/news/3284772-zynga-plus-4_2-percent-mobile-gains-drive-swing-q2-profit
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