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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.”
