Zynga, the San Francisco based video game developer, has reported a wider second quarter loss and has now lowered its third-quarter outlook.

The company has delayed numerous titles and features to later in 2014 and 2015. Because of this, results for the rest of the year will also suffer.

Zynga’s stock is down 18% over the last three months. The second quarter, which ended June 30, saw a loss of $62.5 million, or 7 cents per share.

Zynga’s Chief Executive, Don Mattrick, has shifted the company’s focus from PC and web-based games to mobile games. However, the results of these changes aren’t likely to be seen until 2015.

“I do believe that we can do better in terms of top-line revenue and profitability inside the company, but, you know, that will come in 2015 and beyond,” Mr. Mattrick said. “There is obviously some things that I wish we could have compressed time against.”

The company also announced new licenses, including Looney Tunes from Warner Bros., the National Football League and Tiger Woods that will be used for future mobile games.

Source

About The Author

Kyle K
Staff Writer

Kyle has been a gamer for most of his life. He's a public relations graduate and a well-rounded console and PC gamer who will play just about anything. Also, he secretly wishes he was Nathan Drake.