Zynga First Quarter 2012 Financial ReportBy: Shawn Hess - April 27, 2012
The Zynga first quarter 2012 financial report is in and things are looking really good. Up 15% from Q1 last year, their highest ever bookings at $329 million. Now that’s impressive. Revenue is up 32% year-over-year to $321 million. Adjusted EBITDA is down 23% from the same time last year to $87 million and EPS come in at $0.06 (non-GAAP) and $0.12 (GAAP).
Mark Pincus, CEO and Founder of Zynga comments on their performance during the first quarter of 2012:
“We’re pleased with the progress that Zynga has made in the first quarter growing our audience reach 25% year over year and nearly 20% quarter over quarter. Our team did a great job launching 5 new games across mobile and web including new hits like Hidden Chronicles, Slingo and Scramble with Friends,”
Take a look at the business highlight Zynga listed for the Q1 2012 Quarter:
* Daily active users (DAUs) increased from 62 million in the first quarter of 2011 to 65 million in the first quarter of 2012, up 6% year-over-year.
* Monthly active users (MAUs) increased from 236 million in the first quarter of 2011 to 292 million in the first quarter of 2012, up 24% year-over-year.
* Monthly unique users (MUUs) increased from 146 million in the first quarter of 2011 to 182 million in the first quarter of 2012, up 25% year-over-year.
* Average daily bookings per average DAU (ABPU) increased from $0.051 in the first quarter of 2011 to $0.055 in the first quarter of 2012, up 8% year-over-year.
* Monthly Unique Payers (MUPs) increased from 2.9 million in the fourth quarter of 2011 to 3.5 million in the first quarter of 2012, up 21% sequentially.
* Zynga experienced growth in both mobile and web bookings year-over-year and quarter-over-quarter, with the majority of bookings growth coming from mobile.
* Zynga added six games during the first quarter of 2012, including two titles on web-based platforms: Hidden Chronicles, our first game in the hidden object category, and Zynga Slingo, our first game in the arcade category. Zynga added four titles on mobile platforms: Scramble with Friends, Dream PetHouse, Dream Heights, and Draw Something, which we acquired in March 2012.
* As of March 31, 2012, Zynga held eight of the top ten games on Facebook, based on DAUs, including CastleVille, launched in the fourth quarter of 2011, and Hidden Chronicles, launched in the first quarter of 2012.
* In March, we launched the Zynga Platform, which includes Zynga.com (beta release), a new destination for social games, and Zynga Platform Partners, a program that enables third-party developers to publish their games through Zynga.
Here’s an updated outlook for the rest of 2012:
* Bookings are projected to be in the range of $1.425 billion to $1.5 billion. We expect that growth will be weighted towards the second half of the year with slower sequential growth in the first half of the year.
* Adjusted EBITDA is projected to be in the range of $400 million to $450 million.
Stock-based expense is projected to be in the range of $420 million to $445 million excluding the impact of equity awards that may be granted in connection with potential future acquisitions.
* Capital expenditures are projected to be in the range of $390 million to $410 million which includes the purchase of our corporate headquarters building in April 2012.
Our effective tax rate for non-GAAP net income is projected to be in the range of 25% to 30%.
* Non-GAAP weighted-average diluted shares outstanding are projected to be approximately 880 million shares in the fourth quarter of 2012.
* Full year 2012 non-GAAP EPS is projected to be in the range of $0.23 to $0.29.