Zynga Revenues Decline

Amid A Challenging Mobile Transition, Zynga’s Revenues Decline 18% To $264M | TechCrunch: "Zynga’s revenues for the first quarter of 2013 declined 18% year-over-year to $264 million as the company is in the midst of doing a big pivot onto mobile platforms. The company swung to a profit from a year ago though, with net income of $4 million. Last year, during the same quarter, Zynga earned $321 million in revenue. Analysts had estimated on average that the company would pull in $209.8 million in revenue and lose 4 cents a share. So this is an earnings beat — thanks to FarmVille 2. But shares are down 9.6 percent in after-hours trading. “2013 remains a transition year,” said CEO Mark Pincus on the earnings call. “We continue to expect non-linear, uneven results and a significant decline in second quarter bookings.” He said the company had to kill two unreleased games and that they would sunset about four others including The Ville, Empires & Allies, Zynga City on Tencent and Dream Zoo."

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