Zynga Reports Strong Financial Results for Q2 2021

Zynga Inc, the world leader in mobile and online game development and publishing, released the financial results for its second quarter, covering until June 30, 2021.

The gaming giant posted the management's Q2 2021 Quarterly Earnings Letter, now available on its Investor Relations website.

"We completed a strong first half of 2021, delivering Q2 results ahead of our guidance, including our best-ever Q2 revenue, bookings and operating cash flow," says Zynga Chief Executive Officer Frank Gibeau in a company statement. He adds that their multi-year strategy of expanding its live services, as well as the continuous launching of new games and global expansion investment, keeps the company in a position of steady growth.

"Today, we are thrilled to officially welcome the Chartboost team to Zynga, as well as announce an agreement to acquire China-based StarLark - the talented developers behind the hit mobile franchise, Golf Rival," Gibeau also announced.

Zynga Q2 2021 Financial Results

Zynga (Nasdaq: ZYNGA) reported total earnings of 2 cents per share for Q2 2021 compared to a loss of 16 cents in the same quarter the previous year. Overall, the game developer and publisher saw a 59.3% growth in its revenue, climbing to the $720 million marks on broad-based strength in its live services.

Additionally, the report indicated that the Zacks Consensus Estimate for earnings was placed at 9 cents per share against a revenue of $714 million. The American gaming giant saw its total bookings reach $712 million, equivalent to a 37.5 percent year-on-year (YOY) growth based on strong mobile bookings - with the consensus mark pegged at around $712 million.

For its revenue from online gaming or user payment, Zynga saw a 51.2 percent increase YOY, climbing to $587 million, corresponding to 81.5 percent of the quarter's total revenues.

Other aspects that contributed to Zynga's strong position are advertising and mobile revenues. Advertising, which makes up 18.5 percent of the total revenue, grew 109.4 YOY to $63.5 million. Advertisement bookings, making up 18.7% of its total bookings, saw a 111.1% increase to $63 million. On the other hand, mobile revenues increased by 61.6 percent to $699.2 million, while mobile bookings grew by 28.7 percent to $691.2 million - growths credited to the brand's robust live services offerings and performance.

LIve services saw a better-than-anticipated performance from the Rollic portfolio, "Words With Friends," and the long-running app "Zynga Poker."

Geographically speaking, revenues from the United States comprise the majority of the Q2 2021 revenue at 60.6% and saw a 58% growth year over year, climbing to $436 million.

About Zynga

The global leader in interactive entertainment, Zynga aims to connect the world through games - a goal that manifests itself in its presence across more than 175 countries and regions. It has a diverse portfolio of hit games that, together, have raked in more than four billion downloads. Some of its most popular titles include CSR Racing, Empires & Puzzles, Harry Potter: Puzzles & Spells, High Heels!, Merge Magic, Queen Bee, Words With Friends, Zynga Poker, and more.

For more information, follow Zynga on Twitter, Instagram, Facebook, or the Zynga blog.

Published on Tech Times.