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Zynga surpasses revenue target in 2021 as Take-Two nears takeover

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Zynga has surpassed its previous full-year revenue record of $2.78bn, and the company’s net loss was also significantly reduced.

The revenue for the 12-month period ending December 31, 2021 is 41.8% more than $1.98bn, which was posted the year before. It also beat the company’s projections by 0.8%.

The primary revenue source for the company was online games, which accounted for $2.25bn in revenue, an increase of 34.9% on the previous year. Advertising and other revenues also increased by 79.2%, to $551.3m.

Zynga noted also that bookings, which include deferred revenues to the total for the 12 month period reached a new record of $2.83bn. This is up by 24.5% from last year.

The average number of mobile users was 37 million in 2013, up by 3%. Average monthly mobile users increased to 184 millions, a 38% increase on last year.

In August, the group acquired Chartboost at a price totaling approximately $250,000,000.

Zynga acquired the mobile games studios ByteTyper and Creasaur Entertainment in November from Rollic (Turkish developer of games).

Zynga became the victim last month. Take-Two Interactive, a video games company, agreed to buy Zynga in an agreement that valued the business at $12.7bn.

Take-Two expects the acquisition of NBA 2K developer 2K Games and Grand Theft Auto publisher Rockstar to be completed by the end of June.

Zynga had a 17.1% increase in expenses, totaling $2.75bn. This left an operating profit at $55.8m compared with a loss of $370.2m the previous year.

Zynga’s pre-tax loss was $8.2 million, a substantial improvement over the $4005.4 million loss at the end 2020.

Zynga paid an additional $96.0m tax. This means that the company ended its fiscal year with a loss of $104.2m compared to a loss of $429.4m reported by the end 2020.

In the fourth quarter, revenues reached $695.4m. This is a record high for the company and represents a 12.9% rise from the $616.0m revenue in 2020. Revenue from online games increased by 7.1%, to $534.0m. Advertising and other revenues grew 37.5%, to $161.4m.

The bookings in the third quarter of 2012 were up by 4.0% on an annual basis to $727.0m.

The total costs and expenses rose 8.3%, to $696.7m. This left an operating loss at $1.3m compared with $27.5m for Q4 2020. The quarter’s pre-tax loss was reduced to $25.1m due to interest costs of $23.8m. This is an improvement over the $49.9m in Q4 2020.

Zynga has paid tax of $42.1m during the third quarter. This leaves a loss net of $67.2m compared with a loss of $53.0m for the same time period in 2020.

Frank Gibeau, Zynga’s chief executive officer said: “Our Q4 performance was a strong culmination of our 2021 record where we achieved our highest revenue and bookings in history while also reaching our largest audience ever on mobile.”

I am very proud of the execution of all of Zynga’s growth strategies, including our live services, our new games, and our investments in advertising platforms, new markets, and new technologies. This has helped to establish Zynga a leader among mobile-first and free-to play live service companies.”

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