Zynga posts revenue increase as losses narrow

Finance News

Zynga reported that its first-quarter net loss narrowed to $23 million from $103.9 million. Total revenue for the quarter grew to $680.3 million from $403.8 million last year.

Record average mobile daily active users of 38 million, up 85% year-over-year, and average mobile monthly active users of 164 million, up 139% year-over-year, primarily driven by our recent additions of Toon Blast, Toy Blast and Rollic’s hyper-casual portfolio.

Zynga agreed to acquire Chartboost, a mobile advertising and monetization platform, for about $250 million in cash.

The acquisition announcement is the company’s second this year, after acquiring development studio Echtra earlier to help fuel its efforts to create games that can be played across multiple platforms.

“We are off to an excellent start in 2021 with record Q1 results driven by breakout performances from our live services, new games and hyper-casual portfolio,” said Frank Gibeau, Chief Executive Officer at Zynga. “Today, we announced our intent to acquire Chartboost, a leading advertising and monetization platform.

This transformational acquisition will combine Zynga’s high-quality games portfolio and first-party data with Chartboost’s proven advertising and monetization platform to create a new level of audience scale and meaningfully enhance our competitive advantage in the mobile ecosystem.”