Will Zynga Claw Its Way Back?
T = Trends for a Stock’s Movement
Zynga is a provider of social game services with 240 million average monthly active users in more than 175 countries. The company develops, markets, and operates online social games as live services played over the Internet and on social networking sites and mobile platforms. Zynga’s games are accessible on Facebook (NASDAQ:FB) and other platforms to players globally, wherever and whenever they want. It operates its games as live services, and they are all free to play. However, it does generate revenue through the in-game sale of virtual goods and advertising.
Zynga CEO Don Mattrick said that the mobile video game company is about halfway through his turnaround efforts at a Game Developers Conference party hosted by Covert & Co. According to a report from Re/code, this was Mattrick’s first public appearance since he left his executive position at Microsoft (NASDAQ:MSFT) to join Zynga last summer, at which point he undertook a massive turnaround effort for the struggling mobile game maker. Though he was tight-lipped on the details — we’ll find out more when Zynga reports its earnings for the first quarter of 2014 next month — Mattrick did say he’s optimistic about the the company’s progress and compared it to his early years at developer Electronic Arts (NASDAQ:EA). “To me, it feels like 1991 when EA was going public,” he said, per Re/code. “We grew from 1 to 25 percent market share [by] making purposeful bets.”