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Social games firm Zynga whacked as losses widen

Published on Aug 8, 2014 4:53 AM
 
The Zynga logo is pictured at the company's headquarters in San Francisco, California in this April 23, 2014, file photo. For the past quarter, the social games firm reported deeper losses and revenues sank, sending its share price tumbling. -- PHOTO: REUTERS

SAN FRANCISCO (AFP) - Zynga said on Thursday it wants to perform better, as the social games firm reported deeper losses and revenues sank in the past quarter, sending its share price tumbling.

The loss for the past quarter deepened to US$62.5 million (S$78.2 million), compared with a deficit of US$15.8 million in the same period a year ago.

Revenues dropped sharply to US$153 million in the three months ending June 30, from US$230 million a year earlier.

"While our quarterly financial results were in line with our guidance range, we aspire to do better and improve execution across our business," chief executive Don Mattrick said in a statement.

 
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