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Profits down at Zynga, but mobile revenue is on the up

Social game juggernaut Zynga has released its financials for the full year ended December 31, and while profits are down, mobile revenue is actually on the up.

Social game juggernaut Zynga has released its financials for the full year ended December 31, and while overall revenues dipped year-over-year, the company's mobile operations displayed signs of improvement. 

For the full year, Zynga pulled in revenues of $741 million (GAAP), an annual decrease of 3 percent. The company reported a loss of $108 million (GAAP) on those earnings, which is less than the loss of $121 million it posted this time last year. 

That said, the FarmVille developer did see some positive growth during the final quarter of the fiscal year with revenues of $190.5 million, a year-over-year increase of 3 percent. Zynga believes that growth was driven by the "better than expected" performances of social and mobile titles like Zynga Poker and CSR Racing 2

What's more, the company's smartphone offerings delivered the goods all year round, with mobile revenue jumping by 20 percent year-over-year to $154.7 million (accounting for 81 percent of the company's overall revenue). 

Zynga's average mobile daily active users also rose to 16 million across the same period, a upward shift of 5 percent. 

"We had a strong Q4 and made significant progress this year in our turnaround and we're encouraged by the fundamentals of our business as we head into 2017," said Frank Gibeau, CEO of Zynga. 

"We rallied around our company mission to connect the world through games and create the highest quality social experiences for our players. Our renewed commitment to our live operations is paying off with Zynga Poker and Words With Friends delivering outstanding revenue and bookings. 

"We improved our quality and predictability, launching all games in our 2016 slate including two new NaturalMotion titles -- CSR2 and Dawn of Titans -- which we expect to be long term mobile franchises for us."

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