Newly-appointed Zynga CEO Don Mattrick has his work cut out for him, as the company has just announced its Q2 financial results, reporting a $15.8-million loss with revenue of $213 million. Compared to year-over-year, revenue for the quarter was down 31 percent. Coinciding with the revenue loss was a drop in daily active users playing Zynga’s games. Last year, Zynga had 72-million daily users in its second quarter, this year it was just 39 million, a staggering 45-percent drop.
Despite the financial report, Mattrick remains confident that Zynga can turn things around. Recently, the company began a new restructuring plan that leaves 520 Zynga employees jobless.
“The next few years will be a time of phenomenal growth in our space and Zynga has incredible assets to take advantage of the market opportunity,” said Mattrick in a statement released along with the financial statement. “To do that, we need to get back to basics and take a longer term view on our products and business, develop more efficient processes and tighten up execution all across the company. We have a lot of hard work in front of us and as we reset, we expect to see more volatility in our business than we would like over the next two to four quarters. I’m privileged to lead Zynga and I look forward to spending more time with our players, employees and shareholders.”
Source: Polygon
