Social game maker Zynga announced its second quarter financial results today, posting a $15.8 million loss for the three month period ended June 30, bringing in revenue of $213 million. Revenue for the quarter was down 31 percent year-over-year from the same period last year, when the company pulled in $332 million.
Zynga also posted declines in the number of daily active users that play its games during Q2. Last year, Zynga boasted 72 million daily users in its second quarter; this year, just 39 million, a 45 percent drop. From Zynga's Q1 of this year, the company shed 24 percent of its daily active users.
Monthly unique and monthly active users were also down year-over-year, seeing declines of 36 percent and 39 percent, respectively. Greater drops hit monthly unique payers, from 4.1 million last year to 1.9 million in the same quarter this year.
Despite the declines, recently appointed CEO Don Mattrick sounded upbeat about Zynga's potential in a statement released alongside the company's financial statement.
"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. "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."
Zynga released six titles during the quarter: Hidden Shadows, War of the Fallen, Draw Something 2, Battlestone,Solstice Arena and Running with Friends. The company also began implementing its restructuring plan that will eliminate 520 jobs.
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