INTERNATIONAL_ Zynga’s revenue has seen many positive developments, especially in overcoming outstanding losses, bringing the company out of debt stagnation last year.
Zynga’s fourth-quarter quarterly report for fiscal year 2021 has been published with many notable points. They have finally recouped the losses suffered over the past few years.
For the 3-month period ending December 31, 2021, Zynga earned $695 million in revenue, a 12% increase in revenue year-on-year in 2020. Losses increased from $53 million to $67 million. la.
But even as losses increased during the holiday quarter, Zynga still made more money for all of 2021. Revenue grew 41% for the full year, jumping from $2 billion to $2.8 billion. The company’s net loss for the year fell 75%, a remarkable turnaround after years of losses.
Falling costs and an increase in average daily and monthly users have clearly boosted Zynga’s fortunes. Take-Two, the company that acquired Zynga, will no doubt be pleased about this.
Even so, acquisitions have not been the only headline-making driver for Zynga over the past few months. The studio said it will hire a creative director and a tokenomics designer to make the game.
“We don’t want to give them something that isn’t useful to the player. The company wants to promote the creation of more game products that bring good experiences to the gaming community,” said a representative of Zynga.
After the acquisition, Take-Two owns the operating process for all the popular Zynga games like FarmVille, Words With Friends and High Heels.
In fact, Zynga will be the new brand for Take-Two’s mobile game segment. Zynga’s current CEO, Frank Gibeau, will retain leadership of the organization.
In the past, some of the biggest publishers have bought game companies for huge sums like with Activision Blizzard buying King (making Candy Crush) for $5.9 billion in 2015. EA bought producer Kim Kardashian : Hollywood, Glu, and Playdemic in 2021.
“We saw huge potential in mobile games, so we were driven by the acquisition and acquisition of Zynga,” said Take-Two CEO Strauss Zelnick.