Zynga reports record bookings

Social media and gaming firm Zynga Incorporated has released its financial results for 2011 showing a 38 percent year-on-year increase in bookings to $1.16 billion alongside full-year adjusted earnings before interest, tax, depreciation and amortisation of $303.3 million. Online game revenue was $1.07 billion, an increase of 85% on a year-over-year basis.

Zynga revealed that bookings for the final three months of 2011 rose seven percent quarter-on-quarter to hit a record $306.5 million while adjusted earnings before interest, tax, depreciation and amortisation hit $67.8 million, which was a 34 percent decline year-on-year.

The California firm stated that it had seen ‘strong growth’ in its player network with 153 million monthly unique users during the fourth quarter with annual revenues of $1.14 billion, which was a 91 percent rise year-on-year.

Net losses amounted to $404.3 million in 2011, which included ‘$510 million of stock-based compensation expense for restricted stock units issued to employees’.

“2011 was another milestone year for Zynga's mission of connecting the world through games,” said Mark Pincus, Chief Executive Officer for San Francisco-based Zynga.

“We are seeing social games and, more broadly play, become one of the most popular pastimes on web and mobile. Zynga set new records in the year in terms of audience size, revenues and bookings. We saw great momentum in mobile and advertising and ended the year with a strong pipeline of new games.

“We are excited about the opportunities in front of us to continue delighting our current players and to bring play to millions of new people.”