Social gaming company Zynga saw a sharp increase in gaming revenue and overall revenue, but still made a $23m net loss in the first quarter of 2021.
Online gaming revenue, fueled by Zynga’s Toon Blast, Toy Blast and Harry Potter: Puzzles and Spells offerings, totaled at $557m, an increase of 61.7% year on year.
The addition of revenue from advertising and other revenue at $123.3m, a 107% increase compared to the first quarter of 2020, brings the total revenue for Q1 to $680.3m. This a 68.4% increase year-on-year. Due to this growth, Zynga has predicted that it will end 2021 with $2.7bn in revenue.
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