Rise in hypercasual cancels out IAP decline in Zynga’s Q1 financials

 

Zynga CEO Frank Gibeau hailed hypercasual as the big story in the company’s steady Q1 financial results, announced last night. 

Those financials in brief:

  • Q1 revenue was up just 2% year-over-year at $691m
  • Online game or user pay revenue (IAPs, basically) was down 3% YOY to $538m
  • Advertising and other revenue was up 24% YOY to $154m
  • Average DAUs stand at 40m, up 3% YOY
  • Average MAUs were 209m, up 27% YOY
  • Average bookings per mobile DAU were $0.190, down 6% YOY

There will be no investor call due to the ongoing Take Two acquisition. 

CEO of Zynga Frank Gibeau said of the results:

“We started off 2022 with a strong quarterly performance, achieving our highest ever Q1 advertising revenue and bookings led by our hyper-casual portfolio.”

“Through continued execution across all aspects of our multi-year growth strategy including live services, new game development and investments in our advertising platform, new markets and technologies, we are strengthening our position as a leading mobile-first, free-to-play live services company.”

The company announced last week that it would be losing publishing boss Bernard Kim to Match Group at the end of the month.