Social gaming firm Zynga has made significant headway in launching a mobile platform, and said yesterday in results for the first quarter of 2012 that mobile daily average users (DAUs) jumped to 21m, up from 12m in the fourth quarter.
CEO Mark Pincus told analysts in a post-results conference call yesterday evening that this growth has made the company the “largest mobile gaming network” by users.
The San Francisco-based firm beat market estimates, as booming virtual goods sales drove a 32 percent year-on-year increase in revenue to $321m in the quarter, but the company also posted an $83m net loss due to stock-based expenses.
Bookings - or sales of virtual goods in games - came in at a record $329m, up 15 percent year-on-year, and up 7 percent on the fourth quarter, according to the statement.
Zynga makes the majority of money from the sale of goods in games such as poker chips, but its games do not qualify as gambling as users are not allowed to cash out winnings.
However, the social gaming market leader has expressed an interest in exploring real money gambling, and has been linked for potential partnerships with operators such as casino giant Wynn Entertainment.