Zynga boosts revenue to $720M

Finance News

Zynga results topped Wall Street estimates Thursday as the publisher keeps its M&A momentum going while reducing its physical presence in San Francisco.

Zynga reported second-quarter net income of $27.8 million, compared with a loss of $150.3 million. Zynga reported $720 million in revenue for the second quarter of 2021, up from $680 million in the prior quarter.

Growth was driven by performances from franchises including Words With Friends, which was recently updated with new Solo Challenge content, and the casino-themed Zynga Poker; along with hypercasual games in Rollic’s portfolio.

“Zynga really wrapped up a pretty strong first half of the year,” the company’s CEO Frank Gibeau tells The Hollywood Reporter. Pointing to specific trends in the period, Gibeau brings attention to some shifts in audience numbers. “In late May and early July, as COVID restrictions lifted and people were starting to be able to go out, what we started to see was a drop in audience from some of the most recent players that joined. He clarifies that core players, and those who joined early on in the COVID-19 pandemic are still playing regularly.