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Zynga posts third quarter of losses

Ben Parfitt
Zynga posts third quarter of losses

A loss of nearly $53m for the last quarter means that Zynga has now posted total losses of nearly $161m over the last nine months.

But it wasn’t all bad news, and with numbers coming in ahead of expectations investors may this morning be feeling that there’s some reason for cheer.

Revenues for the last nine months were up from $828.9m last year to $970.1m this time. And most importantly of all the company’s struggling share price climbed 14 per cent on the back of the results.

It also revealed that it intends to press ahead with its real-money gambling plans in the UK in the first half of 2013 having partnered with betting agency Bwin.

Perhaps the most concerning news for Zynga, however, are the struggles being faced in its user numbers battle. Unique paying customers fell 28 per cent to 3m throughout the period.

The news comes just a day after the company announced the closure of 13 of its studios, resulting in the loss of around 100 jobs.

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Tags: zynga , losses , shares , revenues , profits , players , quarter

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