Zynga reports Revenue increase for Q1

Zynga, the American social game developer, has reported revenue growth of 27% and bookings growth of 64% for the first quarter of 2019. But the company reported a bigger loss since it had to pay bigger bonuses.

Revenues were $265 million for the quarter, with bookings at $359 million. Mobile revenue was $246 million, up 35%, and mobile bookings were $341 million, up 77%. Mobile now accounts for 93% of revenue and 95% of total bookings, with desktop web account for the rest.

“It was one of our best quarters ever. It is a testament to the live services portfolio that we have vibrant franchises. It’s a pretty exciting time for us and we’re getting our product lined up for the rest of the year with Game of Thrones Slots Casino and Puzzle Combat,” Zynga CEO Frank Gibeau said.

The quarter reflected Zynga’s highest mobile revenue and bookings quarter ever. Bookings are expected to hit $1.45 billion for the year, up 50% from a year ago and up $100 million from previous guidance.