Zynga has announced financial results for the second quarter in its fiscal year, reporting a $15.8m loss for the three month period concluded at the end of June.
Revenue saw a 31 per cent year-over-year decline to $213m, versus the $332m brought in for the same period in 2012.
Perhaps worse, the social game company posted significant drops in daily active user numbers for its games during the quarter as well – showing a 45 per cent drop to just 39m, compared to 72m during last year's Q2.
Monthly unique and monthly active users were also down year-over-year, seeing 36 per cent and 39 per cent drops, respectively.
In his first official address to investors, recently hired CEO Don Mattrick pounded home a positive message of moving forward – adding that he plans to assess and reset” Zynga's product pipeline over the next three months.
"The next few years will be a time of phenomenal growth in our space and Zynga has incredible assets to take advantage of the market opportunity," said Mattrick. "To do that, we need to get back to basics and take a longer term view on our products and business, develop more efficient processes and tighten up execution all across the company.”
We have a lot of hard work in front of us and as we reset, we expect to see more volatility in our business than we would like over the next two to four quarters. I'm privileged to lead Zynga and I look forward to spending more time with our players, employees and shareholders."