Zynga Announces Q3 2014 Financial Results

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ZyngaZynga has announced its financial results for Q3 2014, which saw revenue of $177 million, a decrease of 13 percent year-over-year, but an increase of 15 percent compared to last quarter. Zynga reported bookings of $175 million for the quarter, driven greatly by the growth of the Hit it Rich franchise and high advertising performance in Words With Friends. Zynga’s transition to a mobile-focused company continues to bear fruit, as the company saw a 111 percent increase in mobile bookings year-over-year.

For Q3 2014, mobile titles accounted for 55 percent of Zynga’s total bookings, up from 50 percent in Q2. However, the company faced challenges in the quarter, like the divided player response after the launch of New Zynga Poker. After release earlier this year, some players found the game to not meet their expectations (or run poorly on older devices). As a result, Zynga announced and eventually released Zynga Poker Classic to give players access to the original gameplay they had previously become accustomed to.

“We have been operating with purpose and it has taken us some time to transform our business as we faced some execution challenges in the quarter. 2014 has been an investment year for us as we assembled a new leadership team, reorganized the company and reset our product pipeline,” said Don Mattrick, CEO of Zynga, in a statement. “As we move forward and aggressively compete in an exciting market, we continue to believe that we are well positioned to take advantage of our global scale and diversified product portfolio, and we remain committed to working together as a team to deliver long term value for our consumers, employees and shareholders.”

In addition to these financial results, the company’s latest earnings call saw Zynga COO Clive Downie announcing new partnerships for the Hit it Rich social slots game. New machines based on Universal Pictures’ Bridesmaids and Bravo Media’s “Real Housewives” television franchise are in the works for the game.

Zynga also has two products currently in soft-launch in select markets: the previously announced Looney Tunes Dash, and a sister game to Words With Friends called Words on Tour. Looney Tunes Dash is expected to launch before the end of 2014, while no release date for Words on Tour was specified.