Zynga's 2Q losses narrow as company slashes costs
SAN FRANCISCO (AP) - Zynga relied on mass layoffs and other cost-cutting to trim its second-quarter losses as the troubled company struggled to come up with compelling games to play on smartphones and tablet computers.
The results announced on Thursday covered Zynga Inc's final reporting period before the San Francisco company hired former Microsoft executive Don Mattrick to replace founder Mark Pincus as chief executive.
Zynga is counting on Mr Mattrick to engineer a turnaround after a highly successful stint in charge of Microsoft Corp's Xbox video game operations. The second-quarter review gave Mr Mattrick his first opportunity to publicly assess the challenges facing Zynga since he started the new job earlier this month.
In a statement, Mr Mattrick didn't sugarcoat the challenges facing Zynga as the maker of games that were once popular on Facebook's social network tries to figure out how to connect with game players who are increasingly entertaining themselves on mobile devices.