Latest News
Zynga hails record results in Q3, acquires Peak Games studio
Zynga has announced that it achieved its best top-line performance in four years during the third quarter, while the company has also entered into an agreement to acquire Peak Games’ mobile card games studio.
In a quarterly earnings letter, Zynga said that revenue in the most recent quarter amounted to $224.6m (€193.7m), which is up 23% on the corresponding period last year and $14.6m ahead of company guidance.
Bookings were also up 9% year-on-year to $213.5m, while mobile user pay hit an all-time high in terms of both revenue and bookings, up 44% and 20% year-on-year, respectively.
Zynga noted that mobile now represents 87% of its total revenue and bookings.
Net income for the third quarter came in at $18.1m, while operating cash flow at the end of the three-month period amounted to $35.1m.
“We had a strong Q3, delivering our best revenue and bookings performance in over four years. We delivered significant growth in profitability in the quarter achieving net income of $18.1m; this represents the first time since we went public that Zynga has delivered two consecutive quarters of net income. We remain on track to deliver our improved margin goals by the end of 2018 and, over the long-term, we’re focused on achieving margins in-line with our peers.” – commented Frank Gibeau, chief executive of Zynga.
Meanwhile, the social gaming company has struck a deal to purchase mobile card game studio from mobile gaming specialist Peak Games.
The deal is worth $100m in cash, with Zynga hoping to close the transaction before the end of the year, subject to customary closing conditions.
Zynga said the acquisition will help to strengthen its casual card game portfolio with the addition of games such as ‘Spades Plus’ and ‘Gin Rummy Plus’.
Monty Kerr, senior vice-president of games at Zynga, added: “We’re excited to welcome the talented team behind Peak Games’ mobile card game portfolio to Zynga. The social card games they’ve developed have broad, evergreen appeal to millions of people around the world and build on Zynga’s strong foundation as we continue to grow our card portfolio over the long-term. The acquisition will enhance our card-based audience and will be accretive to our near-term margin goals.”
Omer Inonu, strategy director at Peak Games, said: “We are proud of what Peak Games has accomplished in growing its leading mobile board and card game portfolio and are confident that Zynga will be a great home for those games and the talented team behind them in the next stages of their growth.”
Latest News
Fast Track welcomes PolarLotto: taking online lotto in Sweden to new heights
Malta, 28th March 2024 – PolarLotto, a leading provider of lotto betting services in Sweden, has just announced a strategic partnership with Fast Track, a leading provider of CRM solutions designed specifically for the iGaming industry. This collaboration aims to propel PolarLotto’s expansion from offline to online offerings, bringing the excitement of the world’s biggest lotteries to Swedish players in a safe and responsible manner.
PolarLotto prides itself on its commitment to transparent and ethical gaming practices, with a focus on player safety and responsible gaming. By teaming up with Fast Track, PolarLotto aims to leverage cutting-edge technology to expand its business model from traditional to online, ensuring a seamless and engaging experience for its customers.
Commenting on the partnership, Benjamin Burstein, CEO of PolarLotto, expressed enthusiasm about the possibilities ahead, stating, “We are excited to embark on this journey of transforming our business with the latest technology and automation tools provided by Fast Track. As we transition to the online space, we are confident that Fast Track’s expertise in custom segmentation, real-time data capabilities, and personalised experiences will enable us to better serve our players and achieve our business objectives.”
Fast Track also expressed confidence in the partnership, highlighting the potential for exceptional results through its Singularity model, which uses AI and machine learning to deliver tailored content to players, at the right time and through the most effective channel. “We are thrilled to partner with PolarLotto and support their online expansion,” said Simon Lidzén, CEO and co-founder of Fast Track. Our tools are designed to empower lean teams to achieve remarkable results, and we look forward to helping PolarLotto maximise their online presence and engagement.”
Latest News
Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years
As the CS2 PGL Major in Copenhagen is set to kick off, Red Bull Media House will unveil a captivating feature-length documentary, “Memories of CS:GO – The Early Years,” an ode to one of the most influential games ever made.
This film takes viewers on an immersive journey through the origins and evolution of Counter-Strike: Global Offensive (CS:GO), featuring personal accounts and defining moments from several of the most legendary figures of the game.
The 90-minute documentary, narrated by Counter-Strike commentator Henry “HenryG” Greer, chronicles the remarkable trajectory of CS:GO, from its grassroots beginnings to becoming a global esports phenomenon.
Produced by Red Bull Media House, the film captures the essence of the game through the eyes of its most well known players, including Olof “olofmeister” Kajbjer Gustafsson, Patrik “f0rest” Lindberg, Richard “shox” Papillon, Gabriel “FalleN” Toledo, and Jarosław “pashaBiceps” Jarząbkowski, among others.
The documentary’s release is timed to precede the playoff stage of the PGL Major Copenhagen, scheduled for March 26, 2024. It will premiere on Red Bull Gaming’s YouTube channel at 21:00 CEST, offering viewers worldwide an insider’s perspective on the beloved game.
Event Details:
- What: Premiere of “Memories of CS:GO – The Early Years”
- When: March 26th, 2024, at 21:00 CEST
- Where to watch: Red Bull Gaming’s Youtube Channel
- The “CS:GO Memories” documentary can be viewed shareit.redbull.com
Latest News
Ten Square Games ready for a new development opportunities in 2024
2023 ESPI package
The following documents in pdf format are equivalents of the official Consolidated Financial Statement which were reported in ESPI (download in the zip file above)
2023 Consolidated Financial Statement
2023 Management Board Report on Activities
Independent Auditor’s Report on the Audit of Annual Consolidated Financial Statements
Link to the stream
Link to the chat with individual investors
Presentation
Factsheet
Financial data
Transcription of the conference and Q&A session
For complete press release visit tensquaregames.com
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