Zynga’s social casino products helped beat analysts’ forecasts in Q2 but the company continues to hemorrhage users.
Revenue in the three months ending June 30 rose 30% to $199.9m and Zynga even narrowed its net loss to a mere $26.9m, down from $62.5m in the same period last year. Advertising and other revenue hit $38m, up 7% sequentially and a hefty 70% year-on-year.
Bookings, the sale of virtual goods within games, were roughly flat year-on-year at $174.5m, but this was far better than the $157m analysts had forecast. Even better, mobile bookings rose 30% to $115m, now representing two-thirds of all bookings. However, web bookings fell 31% year-on-year to $59m.
Average daily bookings per daily average user rose 29% to 9.1¢, but average monthly unique payers dropped over 28% to 1m and player conversion fell 17% to 1.6%. (Compare that to current industry leader Caesars Interactive Entertainment, which recently boasted a 4.4% conversion rate and earned 31¢ from each user.)