Zynga Inc announces Q1 earnings

Business News

Zynga released its financial results for the first quarter of 2018 today, showing mobile revenues of $182.6 million. This is a 13 percent year-over-year growth.

Zynga’s three major mobile titles all saw year-over-year growth. Words With Friends was up 18 percent, CSR Racing 2 increased by 2 percent, and Zynga Poker went up by 13 percent. Thanks to these games, Zynga’s titles have 23 million daily active users. That’s a 24 percent year-over-year growth and the best number for the company in over four years.

For the future, Zynga has released a new game — Willy Wonka’s Sweet Adventure — via a soft launch. This is a match-three puzzle game with builder elements. Zynga already has a Willy Wonka Slots game, and now this new title will further take advantage of the company’s licensing agreement with Warner Bros. Zynga is expecting total revenues of $208 million for 2018’s second quarter.

Zynga also announced that its founder, Mark Pincus, is converting his high-voting shares to Common A stocks. This will turn Zynga’s stock structure from a multiclass one to a single-class company, and it will reduce Pincus’s voting power.