Zynga’s Q1 2020 Financial results show that the company achieved its highest first quarter revenue and bookings in the company’s history, despite posting a net loss of $104 million from recent big acquisitions.

The company reported revenue of $404 million, up 52 per cent y/y, for the three months ended March 31, and bookings of $425 million, up 18 per cent y/y.  The biggest drivers of that growth came from titles such as Empires & Puzzles, Merge Magic!, Game of Thrones Slots Casino and Merge Dragons!

While driving much of their growth, the 2018 acquisitions of Empires & Puzzles developer Small Giant Games and Merge franchise creator Gram Games resulted in the company posting a net loss of $104 million for the quarter. These acquisitions cost extra $120 million this quarter, while Zynga had forecast for $25 million.

“During this unprecedented time, Zynga’s mission – to connect the world through games – has become even more meaningful for our company. As people around the world shelter-in-place, friends and families are turning to social games as an incredibly engaging and highly accessible way to connect,” said CEO Frank Gibeau.

Looking forward, Zynga expects revenues of $400 million and $1.65 billion for the second quarter and full year 2020, respectively. Analysts currently estimate revenues of $421.43 million and $1.76 billion.