Zynga Continues to Lose Money

Social gaming company Zynga has reported earnings for its fourth quarter and full-year ended December 31, revealing a loss of $46.9 million for the holiday quarter and a loss of $117 million for the year. Revenue was down 5 percent during the holiday quarter, but for the full year, it rose 11 percent to $765 million.

In its announcement, Zynga noted that its loss of $117 million for the full year includes a $32 million restructuring expense related to the company's 300-plus layoffs in 2015. Additionally, the loss was an improvement over 2014, during which the company posted a net loss of $226 million.

Regarding the restructuring plan announced last year that involved the layoffs, Zynga said it expects the move to eventually result in $45 million in yearly savings.

For the full year, Zynga reported that the money it made from mobile games grew 35 percent year-over-year, while revenue from web games almost matched that in decline, falling 32 percent.

In terms of player figures, daily active users for Zynga games dropped 20 percent year-over-year. However, mobile players fell just 1 percent, while web players dropped 53 percent. Additionally, though player numbers were down overall, Zynga said it's making more money from the players it does have, as the ABPU (average billing per user) jumped 26 percent compared to last year.

Additionally, Zynga announced that it acquired Zindagi Games, the developer behind match-three games like Yummy Gummy and Crazy Kitchen.

You can read the full Zynga earnings report here.