Zynga Inc (ZNGA) Q4 Mobile Revenue Up 90% Y2Y
Zynga Inc (NASDAQ:ZNGA) posted impressive fourth-quarter results as its mobile games have continued to rise in popularity.
The company posted revenue of $233.3 million for the period, a 22% increase compared to the year-ago quarter, marking its best quarterly performance in five years. Adjusted earnings came in at a penny per share, in line with analysts’ expectations.
One of Zynga’s best assets during the period was Words With Friends 2, which gave the franchise a 90% hike in its CSR2 mobile revenue compared to the year-ago quarter. The mobile revenue from Zynga Poker also rose 44% year-over-year, and the company’s mobile revenue and bookings increased the most they have in its eight years.
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The company unveiled bookings of $223.8 million for the three months ended Dec. 31, topping the $213.9 million projected by analysts polled by FactSet. The metric helps to indicate future revenue and sales of virtual goods.
Overall, mobile revenue was up 32% year-over-year for Zynga, while mobile bookings surged 18% compared to the year-ago quarter. Its average monthly active users during the period were 86 million, up 37% from 63 million in the year-ago quarter.
Zynga’s total average daily active users rose from 18 million to 22 million year-over-year, while its average daily bookings per average were 11.3 cents, down from the year-ago figure of 12 cents. Payer conversion surged to 2.4% from 2.2%, marking a 9% gain.
ZNGA shares edged 0.8% after the company reported on its quarter Wednesday.
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