Despite still maintaining ongoing losses in revenue and bookings, Zynga CEO Don Mattrick said he is pleased with the game developers third quarter performance, according to a report today from VG 24/7.
Mattrick said he though Zynga exceeded expectations in terms of bookings and EBITDA –– the measure of a company’s profitability through earnings before interest, taxes, depreciation and amortization.
“Our teams are working hard to compete more aggressively on the web, move to mobile and develop new hits, and I am happy with the early progress we have made. We believe our top franchises, Zynga Poker, FarmVille and Words With Friends can be evergreen in terms of consumer interest and we are focused on growing these franchises in fiscal year 2014. I am confident that Zynga is rewiring itself in a meaningful way that will strengthen the core of our business and put us back on track to achieve significant long-term growth and profit.”
For the quarter, which ended on Sept. 30, Zynga posted revenues of $202.5 million, down 36 percent from $316.6 million in 2012.
The decline in bookings, however, was more apparent, as Zynga drew just $152 million in Q3, down by 40 percent year-on-year.
The hire of former Mattell and EA executive Clive Downie could perhaps quell investor’s concerns.
Downie, who recently jumped ship from Zynga rival DeNA west, has a resume of industry success and will take over as operations chief.
“I have known Clive for more than two decades and am pleased to welcome him to the team. He is a seasoned leader with a deep understanding of consumer, marketing and mobile engagement, international experience operating both in EMEA and Japan and a rich background in game publishing –– all of which are incredibly valuable as Zynga navigates its move to mobile,” Mattrick said.
The news comes just a few days after Electronic Arts head of mobile development Frank Gibeau said Zynga “blew it” in terms of mobile gaming.