Zynga Announces Second Quarter 2017 Financial Results
03 August 2017 - 6:05AM
Zynga Inc. (Nasdaq:ZNGA) has released its second quarter 2017
financial results by posting management’s Q2 2017 Quarterly
Earnings Letter on its website. Please visit
http://investor.zynga.com/results.cfm to view the letter.
An infographic accompanying this announcement is available
at
http://www.globenewswire.com/NewsRoom/AttachmentNg/5c759e56-2970-4265-ae6b-84c1a6f67c29
Zynga management will also host a Q&A session at 2:30 p.m.
Pacific Time (5:30 p.m. Eastern Time) to discuss Zynga’s second
quarter 2017 performance. Questions may be asked on the call, and
Zynga will respond to as many questions as possible.
The live Q&A session can be accessed at
http://investor.zynga.com – a replay of which will be available
through the website after the call – or via the below conference
dial-in number:
- Toll-Free Dial-In Number: (800) 537-0745
- International Dial-In Number: (253) 237-1142
- Conference ID: 54664151
Statement from Zynga’s Chief Executive Officer Frank
Gibeau
“We had a great first half of the year, beating our Q2 guidance
on the top and bottom line and posting our best revenue and
bookings performance in four years. Our forever franchises continue
to flourish, and today we have the strongest mobile portfolio in
company history. We’re also pleased with our mobile momentum, and
in Q2, we delivered our highest mobile user pay revenue and
bookings. Our mobile audience has also increased, up 28%
year-over-year, now at 19 million average mobile DAUs. Our
operating cash flow is the best we’ve generated in five years and,
this past quarter, we reached profitability, achieving net income
of $5.1 million,” said Frank Gibeau, CEO of Zynga.
About Zynga Inc.
Since its founding in 2007, Zynga’s mission has been to connect
the world through games. To-date, more than 1 billion people have
played Zynga’s games across Web and mobile, including FarmVille,
Zynga Poker, Words With Friends, Hit it Rich! Slots and CSR Racing.
Zynga’s games are available on a number of global platforms
including Apple iOS, Google Android, Facebook and Zynga.com. The
company is headquartered in San Francisco, Calif., and has
additional offices in the U.S., Canada, U.K., Ireland, India and
Finland. Learn more about Zynga at http://blog.zynga.com or follow
us on Twitter and Facebook.
Contacts
Investor Relations ContactRebecca Lauinvestors@zynga.com
Press ContactStephanie Hessshess@zynga.com
Cautionary Statements/Non-GAAP Financial
Measures
The preliminary financial results set forth in
this press release are estimates based on information currently
available to us. While we believe these estimates are meaningful,
they could differ from the actual amounts that we ultimately report
in our Quarterly Report on Form 10-Q for the quarter ended June 30,
2017. We assume no obligation and do not intend to update these
estimates prior to filing our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2017.
We have provided in this press release certain
non-GAAP financial measures to supplement our consolidated
financial statements prepared in accordance with GAAP (our “GAAP
financial statements”). Management uses non-GAAP financial measures
internally in analyzing our financial results to assess operational
performance and liquidity. Our non-GAAP financial measures may be
different from non-GAAP financial measures used by other
companies.
The presentation of our non-GAAP financial
measures is not intended to be considered in isolation or as a
substitute for our GAAP financial statements. We believe that both
management and investors benefit from referring to our non-GAAP
financial measures in assessing our performance and when planning,
forecasting and analyzing future periods. We believe our non-GAAP
financial measures are useful to investors because they allow for
greater transparency with respect to key financial measures we use
in making operating decisions and because our investors and
analysts use them to help assess the health of our business.
We have provided reconciliations of our non-GAAP
financial measures used in this press release to the most directly
comparable GAAP financial measures in the following tables. Because
of the following limitations of our non-GAAP financial measures,
you should consider the non-GAAP financial measures presented in
this press release with our GAAP financial statements.
Key limitations of our non-GAAP financial
measures include:
- Bookings does not reflect that we defer and recognize online
game revenue and revenue from certain advertising transactions over
the estimated average life of durable virtual goods or as virtual
goods are consumed.
|
|
Three Months Ended |
|
|
|
June 30,2017 |
|
|
March 31,2017 |
|
|
December 31,2016 |
|
|
September 30,2016 |
|
|
June 30,2016 |
|
Reconciliation
of Revenue to Bookings: Mobile |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
$ |
179,868 |
|
|
$ |
161,613 |
|
|
$ |
154,674 |
|
|
$ |
145,906 |
|
|
$ |
138,125 |
|
Change in deferred
revenue |
|
|
1,755 |
|
|
|
14,508 |
|
|
|
12,387 |
|
|
|
16,413 |
|
|
|
(1,492 |
) |
Bookings:
Mobile |
|
$ |
181,623 |
|
|
$ |
176,121 |
|
|
$ |
167,061 |
|
|
$ |
162,319 |
|
|
$ |
136,633 |
|
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