Zynga making headway.

By RP, May 8, 2017

Social gaming firm, Zynga, released its first quarter 2017 results hailing the highest mobile revenue and bookings in its history with Zynga Poker and Slots, both key performers.

Zynga Poker, one of the company’s “forever franchises” achieved its highest quarterly mobile performance in its 10-year franchise history, the company said.

“We’re off to a great start in 2017,” Frank Gibeau, chief executive officer for Zynga, commented. “We delivered a strong quarter, beating guidance on all key financial measures and posting some of our best results in years.”

Zynga Poker saw its highest quarterly mobile performance in franchise history with mobile revenue increasing 63 percent year-over-year, mobile bookings up 76 percent year-over-year and average mobile DAU up 78 percent year-over-year.

Other key financial indicators were:

– Group revenue of $194.3 million, up 4 percent y-o-y, beating Zynga’s guidance.

– Net loss of $9.5 million, an improvement of $17.1 million year-over-year.

– Deferred revenue increased by $13.1 million; $8.1 million, above Zynga’s guidance

– Bookings of $207.4 million; above guidance, up 14 percent y-o-y.

– Adjusted EBITDA, which includes the impact of changes in deferred revenue, of $16.7 million; above guidance.

– Operating cash flow of negative $4.7 million, down $1.4 million y-o-y.

“Over the past 12 months, we’ve fixed the fundamentals of the company and have driven significant improvement in profitability and cash flow – all of which are the strongest we’ve delivered in years,” Gibeau concluded. “We remain on track to deliver margins in line with our peers over the long-term.”