Zynga’s third-quarter financial results saw revenues up 19 percent to $332 million. However, the social game company still posted a $22.8 million quarterly loss.
The lowered results were blamed on “reduced performance of some of our live web games” and “several new games which are at risk of launching later than expected.” Chairman and CEO Mark Pincus said that in the months and years to come, it will launch real money games outside the U.S. and will continue to spend hundreds of millions of dollars acquiring game developers over the next three to five years
The company is expecting revenue of roughly $300 million to $305 million during the next fiscal quarter. Zynga also revised its full year forecasts down to $1.09 billion – $1.1 billion from earlier expectations of between $1.15 billion to $1.23 billion.
Zynga continues to make gains in mobile, as 33 million of the overall 72 million daily average users are on mobile devices. This is a positive sign, as the traditional social game sector as a whole has been rapidly diminishing over the past several months.
The company’s beleaguered stock sank 41 percent, to $2.99 in after-hours trading after the results came out. The damage might not even be done, as Facebook will soon make its own its first-ever earnings report as a public company; Facebook’s stock fell $2.54, or 8.7 percent, to $26.80 in after-hours trading.
