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Zynga has recorded a net loss of $22.8 million during its Q2 2012 financial summary, despite achieving a 19 per cent revenue growth over last year's results.

The social games services firm, which owns Facebook game Farmville, said that the loss included $95.5 million of "stock-based expense", offsetting the firm's $332.5m Q2 revenue intake and sending it into the red.

It said that it also faced a "more challenging environment on the Facebook web platform".

Total losses for the first six months of 2012 now stand at over $108 million.

The company has also "reduced expectations" for Draw Something, the iOS phenomenon which it acquired during its $180m takeover of OMGPOP in the previous quarter.

The game suffered significant decline in users shortly following Zynga's acquisition.

In addition to announcing the loss, Zynga reported that it would be "lowering our outlook [for the remainder of 2012] to reflect delays in launching new games, a faster decline in existing web games due in part to a more challenging environment on the Facebook web platform, and reduced expectations for Draw Something."

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BC_Animus's Avatar

BC_Animus

Good riddance. Sadly the next rubbish thing will come along shortly and make billions of dollars, and the circle will begin anew...
Posted 14:39 on 26 July 2012
rbevanx's Avatar

rbevanx

I sort of have "say something" by James in my head but instead of say it's it's "draw something"
Posted 11:50 on 26 July 2012
Clockpunk's Avatar

Clockpunk

Can't say I have ever played one of their games. Can't say I ever intend to. Couldn't happen to a nicer group!
Posted 11:47 on 26 July 2012
mydeaddog's Avatar

mydeaddog

If there's a hell for companies...
Posted 10:21 on 26 July 2012
Woffls's Avatar

Woffls

Bye bye Zynga. You won't be missed.
Posted 10:08 on 26 July 2012

Game Stats

Release Date: 01/06/2010
Genre: Unknown
Rating: TBC
Site Rank: 13,758 184
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