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Social gaming monolith Zynga has revealed its second quarter financial figures, reporting a $22.8 million net loss for the period and a lowering of their outlook for the rest of the year. The folks behind such games as Farmville and Draw Something reported revenue income of $332.4 million for Q2 2012, which is up 16% from last year at this time. However, the $22.8 million net loss is a significant step down from last year’s $1.3 million made in profit during this quarter, which was a meager sum to begin with. 
CEO Mark Pincus acknowledged his company’s troubled times, but says that despite what he terms as “new short-term challenges which led to a sequential decline in bookings,” he and the rest of Zynga remain “optimistic about the long-term growth prospects on mobile where we have a window of opportunity to drive the same kind of social gaming revolution that we enabled on the web.” By Jeff Dunn |