Farmville creator Zynga zooms into profit with net income of $3.1m for third quarter of 2015

 
Hayley Kirton
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The social gaming developer reported net income of $3.1m for its third quarter of 2015 (Source: Getty)

Zynga has entered the black, posting net income of $3.1m for its third quarter of 2015 with several new games pushing the firm's performance ahead. Shares in the company, which created Farmville and Words With Friends among several other games, went up by 1.22 per cent in after hours trading.


By comparison, the social gaming developer made a net loss of $57.1m during the same period in 2014 and a net loss of $26.9m during its second quarter of 2015.

Chief executive Mark Pincus said the company’s Wizard of Oz Slots, Words With Friends and recently launched Empires & Allies games were the main drivers behind the quarter’s strong performance.

Revenue also rose, from $176.6m for the third quarter of 2014, to $195.7m for the last three months. However, this figure is slightly down from the second quarter of 2015, when the company reported revenue of $199.9m.

Zynga has also revealed a $200m stock buyback programme and said that its chief financial officer, David Lee, will be leaving his post in December. Lee joined the company in April last year. The company’s current chief accounting officer Michelle Quejado will take over as interim CFO.


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