Zynga announces acquisitions as it returns to profit in first half
Zynga posted a net profit of $4.8m (£3.5m/€4.1m) for the first half of its 2021 financial year after a 63.7% year-on-year increase in revenue during the period saw the business to return to growth, while the social gaming giant has announced details of two new acquisitions.
Revenue for the six months to June 30 amounted to $1.40bn, up from $855.4m in the first half of last year.
Zynga’s online games business was by far the primary source of income during the period, with revenue here reaching $1.14bn, an increase of 56.2% on 2020. Advertising and other revenue also shot up 108.5% to $256.3m.
Bookings for the half were also up 51.8% to $1.43bn, with mobile bookings rising 53.4% to $1.39bn and advertising bookings 109.7% to $256.2m.
Turning to costs and total expenses for the half were up 23.7% to $1.33bn, though the rise in revenue meant adjusted earnings before interest, tax, depreciation and amortization (EBITDA) was 114.3% higher at $296.8m.