Social game developer Zynga Inc. published its financial results for the three months ended June 30, 2016. Revenue amounted to $182 million for the period in review, down 9% as compared to the figure posted for the same quarter of 2015.
Revenue from online gaming totaled $136 million, down 16% year-on-year. Zynga Poker contributed 19% of the online revenue for the period. Wizard of Slots accounted for 15% and Hit It Rich! Slots accounted for 11%. Revenue from advertising and other services was up 22% year-on-year to reach $46 million.
Bookings remained flat for this year’s second quarter and amounted to $174.7 million. On a GAAP basis, net loss amounted to $4.4 million, compared to net loss of $26.9 million reported for the same three months of the previous year.
On a non-GAAP basis, Zynga reported net income of $1.6 million for the three months ended June 30, 2016, up from net loss of $7.6 million for the same period of 2015.
Adjusted EBITDA totaled $11.6 million for the reviewed quarter, compared to adjusted EBITDA of $963,000 generated during the second quarter of the previous year.
Zynga also provided information about its financial performance during the six months ended June 30, 2016. Revenue totaled $368.5 million, down from the $383.2 million generated during the same period of 2015.
The social games studio reported net loss of $31 million on a GAAP basis, compared to net loss of $73.3 million. On a non-GAAP basis, net income totaled $3.1 million during the period in question, up from net loss of $14.3 million. Considerable increase was reported in adjusted EBITDA, as well. It amounted to $22.5 million during the first half of the year, compared to the $3.1 million posted for the same six months of the previous year. Bookings totaled $356.3 million, compared to $341.9 million for the first half of 2015.
Commenting on the company’s financial results, CEO Frank Gibeau said that they have kept on making great progress in turnaround. The executive further noted they are in a process of tightening their operating model and improving cost management. Mr. Gibeau also expressed hopes that the momentum seen in their product offering and the company as a whole will eventually show up in results.
