Looking to bring its wayward financials back on track, Zynga revealed a handful of surprises during its 2013 fourth quarter earnings report on Thursday. While Zynga CEO Don Mattrick announced the acquisition of British gaming company NaturalMotion, he also said the company had to tighten its belt with company-wide layoffs. This comes with news of a 43.3 percent decrease in Zynga's revenue from a year ago.
Social-gaming company Zynga on Thursday released its third-quarter earnings, and while its revenue decline still beats Wall Street's estimates, the user numbers don't spell recovery.
Zynga, now headed up by former Xbox chief Don Mattrick after Mark Pincus stepped down in July, came in at a loss of 2 cents per share on adjusted revenue of $152 million, up from Wall Street estimates of a loss of 4 cents per share on $142.7 million.
"We believe our top franchises, Zynga Poker, FarmVille, and Words With Friends can be evergreen in terms of consumer interest and we … Read more
As new Zynga CEO Don Mattrick takes the helm of the struggling game maker, top employees are leaving the company for a host of reasons. And two more high-level executives are said to be stepping down: Chief Operating Officer David Ko and Chief People Officer Colleen McCreary, according to BuzzFeed.
To address these top-level changes, Mattrick is reportedly holding an all-hands meeting Tuesday afternoon at 4 p.m. PT to discuss his outlook for Zynga.
According to BuzzFeed, Ko and McCreary are stepping down for different reasons. Supposedly, Ko was planning to leave after not being tapped to be the … Read more
Zynga's new CEO Don Mattrick made it clear during the company's earnings call Thursday that he has high expectations for the company, despite its struggle to retain players and stay relevant in social gaming.
A self-professed Candy Crush fan, Mattrick plans to knock the hit game -- and every other non-Zynga game on the top ten Facebook games list -- off the leaderboard.
"My aspirations is 10 out of 10. It's probably going to take us longer than four quarters to get to that, but I think it's the long-term vision," he said. Zynga … Read more
Zynga beat expectations for its second quarter, reporting revenues of just under $231 million, down 31 percent from a year ago, and bookings of $188 million, down 38 percent from a year ago. The company lost 1 cent per share.
Those results, however, were slightly better than Wall Street expected. Analysts had anticipated revenue of about $185 million with a loss of up to 4 cents per share.
Zynga continues to lose users. The company reported 39 million daily active users for Q2, a figure that's down 45 percent from last year. Monthly active user went down by 39 … Read more
Zynga CEO Don Mattrick might have secured his new position much sooner if he and his predecessor could have made a deal a few years ago.
Mattrick held discussions with Zynga founder and former CEO Mark Pincus in 2010 about the possibility of Mattrick acquiring the social-gaming company, Bloomberg reported Monday, citing people who claim to have knowledge of those talks. Those talks eventually fell through, but Pincus and Mattrick remained friendly, according to Bloomberg's sources.
Veteran video game executive Don Mattrick faces his toughest level yet.
On Monday, Zynga said it had tapped Mattrick as its new CEO. He will take over for Mark Pincus, the controversial founder and current CEO of the embattled social-gaming company.
Mattrick faces a Herculean task of reviving a company whose fortunes have taken a turn for the worse thanks to an exodus of players, fatigue from even its most popular franchises, and, ultimately, a "broken" business model. Moreover, he will have to work with Pincus, whose difficult personality has rubbed insiders and investors the wrong way.
Still, … Read more
Don Mattrick, the man who oversaw Microsoft's gaming business, will start his new job as CEO of Zynga next week, Mark Pincus, founder of the social gaming company, announced Monday afternoon.
The struggling company confirmed the appointment on its blog after All Things Digital reported the news earlier in the day. In addition to replacing Pincus as CEO, Mattrick -- who was in charge of gaming and entertainment at Microsoft including the popular Xbox gaming system -- will also become a Zynga board member. He starts at Zynga on July 8.
"As I reflect on the past six … Read more
Microsoft's head of Interactive Entertainment Business, the unit responsible for the Xbox, is leaving the company to work for struggling social gaming company Zynga, All Things Digital reported Monday.
Unnamed sources told AllThingsD that Don Mattrick will take a job at Zynga, possibly working as CEO under founder and current Chief Executive Mark Pincus. The announcement about Mattrick's new job could come as early as Monday, after the market closes.
Mattrick, who left Electronic Arts in 2007 to join Microsoft, became the head of the Interactive Entertainment Business unit in 2010. He also has overseen PC and mobile … Read more
Microsoft backtracked Wednesday on its much-derided policy that would have required Xbox One gamers to connect their consoles to the Internet once a day to prevent game piracy.
Microsoft faced a huge backlash when it announced the policy, just before the E3 video game conference earlier this month. Then, the company said it would allow gamers to play offline for up to 24 hours on a primary console, or 1 hour if they were logged onto a separate console accessing their library of titles. At that point, offline gaming would have been disabled until players re-establish a Web connection.
"… Read more