Zynga just released its third-quarter financial results for the period ending September 30, 2021, and things are looking up for the formerly beleaguered mobile publisher. Revenue is up, net losses are down, and Zynga expects to make close to $3 billion before the end of the year.
Posted revenue hit $705 million, which is a 40% increase compared to the same time last year. A lot of that revenue came courtesy of subsidiary Rollic Games and its various mobile titles as well as Golf Rival and “forever franchises” like CSR and Words with Friends.
Still, Zynga is losing money overall. The company reported net losses of $42 million, which is better than the $110 million initially forecast and way better than the $122 million the company lost over the same period last year. Zynga has been struggling with profitability as it pivots hard away from Facebook casual games to mobile and traditional game segments, purchasing studios with its many billions earned from its time as the undisputed king of casual games.
Zynga expects to lose just $60 million in Q4, but record revenues of $675 million. That'll bring its full-year revenue guidance up to $2.78 billion, "which would be a record 41% increase in earnings compared to the $1.97 billion it generated in 2020," as noted by GamesIndustry.biz.
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Helping with that revenue is the recent release of FarmVille 3, which just saw its global release last week. The long-running series launched on iOS, Android, and Mac M1 allows players to build the rustic homestead of their dreams.
In addition to full creative control over their farm, environment, and farmhands, players are able to collect and breed over 150 animals, meet 30 characters with handy skills, and corm your own "co-op" to exchange goods with other players, which is oddly socialist for Farmville. Players that download the game over the next two weeks will also get an exclusive starter kit with decorations and items to get your farm started on the right foot.