Zynga Records Record Mobile Quarter Growth in Q1
The meteoric rise and fall of social casino giant Zynga has been well documented by our team in the last few years.
Figures for Q1 have just been released by Zynga and the news is good as they generated record revenues for the first three months to March 31, 2017. Mobile revenues were up 19 percent year-on-year with mobile bookings also reach an all-time record high of 27% compared the same period last year.
The importance of increase in mobile users is essential for Zynga if they want to return to their early glory days. It is no secret that one of Zynga’s major strategic blunders was that of not focusing enough on the mobile channel which is key to any successful social or real money casino company.
Revenues for the quarter rose 4% year-on-year to reach $194.3 million. This was up from the $186.7 million in Q1 2016. However Zynga still reported a net loss of $9.5 million which is an improvement from the $26.6m loss in Q1 2016.
Other good numbers cane from monthly active users that increased 5% year-on-year and more importantly mobile MAUs also increased 13% to 63 million, Web users were down by 28% however.
CEO of Zynga, Frank Gibeau commented on the positive figures,” We’re off to a great start in 2017; we delivered a strong quarter, beating guidance on all key financial measures, and posting some of best results in years.”