Zynga reports Q3 2013 financial results, names Clive Downie as COO
Zynga has announced its financial results for Q3 2013, seeing a decrease in revenue year-over-year. The company also announced that Clive Downie, former CEO of DeNA West, has joined the mobile and social developer / publisher as its new Chief Operating Officer.
Zynga reported revenue of $203 million for the quarter ending September 30, a decrease of 36 percent year over year. Zynga reported bookings of $152 million, down 40 percent year over year.
“I am pleased with our Q3 performance which exceeded our guidance both in terms of bookings and adjusted EBITDA. We are encouraged to see sightlines to growth and expect to be profitable for the full year on an adjusted EBITDA basis,” said Zynga CEO Don Mattrick in a statement.
Despite launching multiple new games during the quarter, including Fairy Tale Twist on Facebook and CastleVille Legends on mobile, Zynga’s monthly active users decreased 29 percent quarter-over-quarter, now sitting at 133 million users, as compared to 187 million last quarter.
During its financial earnings call today, Zynga CFO Mark Vranesh attributed these losses to a decrease in popularity of ‘Ville-style’ games, as well as the summer lull seen in Zynga Poker.
Zynga projects revenue of $175 million to $185 million for Q4 2013. Its Q4 2013 bookings are expected to be in the range of $130 million to $140 million.
Mattrick continues to focus on the long-term growth of the company, and believes Downie’s [pictured right] previous experience and customer-first sensibilities will help Zynga’s position going forward.
“I have known Clive for more than two decades and am pleased to welcome him to the team. He is a seasoned leader with a deep understanding of consumer, marketing and mobile engagement, international experience operating both in EMEA and Japan and a rich background in game publishing – all of which are incredibly valuable as Zynga navigates its move to mobile,” said Mattrick, in a statement.
“I enjoyed my prior experiences working with Clive at Electronic Arts and have appreciated what he accomplished in the past five years at DeNA. As we build new leadership capabilities and focus the company on long term growth, Clive’s customer-centric point of view and proven track record will be invaluable to Zynga’s future.”
Before DeNA West (formerly ngmoco), Downie spent more than 15 years at Electronic Arts as Vice President of Marketing, and previously led international marketing and licensing for Hot Wheels Motorsports at Mattel.
“Our teams are working hard to compete more aggressively on the web, move to mobile and develop new hits, and I am happy with the early progress we have made,” added Mattrick. “We believe our top franchises, Zynga Poker, FarmVille and Words With Friends can be evergreen in terms of consumer interest and we are focused on growing these franchises in fiscal year 2014. I am confident that Zynga is rewiring itself in a meaningful way that will strengthen the core of our business and put us back on track to achieve significant long term growth and profits.”