Zynga Gaming Revenue drops for first time in 2 years
Words With Friends, Crosswords With Friends, CSR Racing 2, Farmville and other free-to-play online games are some of Zynga Inc.'s most popular titles, but none can be as popular as Zynga Poker, which has been the company's leading title since quite a few years now.
The social gaming company however, has gone on to show disappointing numbers for the third quarter of 2018, reporting a slide in gaming profits for the first time in two years. The company reported an estimated 13% YoY (year-over-year) drop in revenue for the Q3 2018 period.
The company believes that changes to Facebook Connect is the major reason behind this revenue drop, which resulted in a loss of players from the Facebook platform. They are working on re-engaging with these lost players, but the company believes that this softness in numbers will extend into the fourth quarter as well.
Until then, Zynga will rely on their other titles (as mentioned above) to get them over this small hurdle, as the company doesn't depend only on their main game. “I think that’s one of the things that as the team here at Zynga we’re really proud of is that we have a diverse portfolio of franchises. So, when poker hits an air pocket and goes flat for a bit, we have an up 52% delivery on Words With Friends in that same quarter and CSR continues to go along,” said Zynga CFO, Gerard Griffin.
Overall, Zynga revenue grew in the quarter 4% YoY to $233 million, and bookings were up 17% to $249 million. It was just the gaming revenue that slid, which includes players making in-app purchases, declining 4% from $175 million to $168 million in the same period.
Keep reading GutshotMagazine.com for more major Zynga updates in the days and weeks to come.
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