This just in Reuters who are reporting that Zynga, the makers of hugely popular smartphone games as well as Facebook games is reporting a 1st Quarter Loss of 85 Million Dollars or 12 cents a share. When adjusted, excluding some charges like stock based compensation, they reported a profit of 47 million. Revenue increased 32% and came in at 329 million thumbing their nose at Analysts who were expecting $317.25 million.
Since Zynga has gone public, this is the second quarterly loss in a row out of two after reporting 7 straight profitable quarters as a privately owned company. All Zynga needs to do now is roll out it’s games to Windows Phone in this second quarter so they can report some profit in the third quarter of 2012. I will be buying up all the games like Scramble, Words, Chess, and Hanging with friends along with Zynga Poker to whip David K’s butt at!
Still, revenue is good and the Zynga games continue to sell so let’s hope they can turn things around and give stock holders less to worry about other than getting smoked at Mafia Wars!