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Zynga sees revenues and users decline in Q1, Draw Something 2 out today
Social game publisher Zynga has revealed financial results for the first quarter of 2013. The company posted revenue of $263.5 million, a significant decline from the $320.9 million posted during the first quarter last year. Zynga saw its user numbers decline as well. Daily active, monthly active and monthly unique users fell across the board. Despite these losses, Zynga recorded a net income of $4.1 million, as compared to a $85.3 million loss during the same period last year. The company identified FarmVille 2 as "a breakout hit with daily audience engagement and bookings exceeding the company's expectations." For the second quarter, the publisher is predicting a net loss of $36.5 million to $26.5 million. Zynga posted a huge loss of over $200 million for 2012, and today's results follow a string of rocky news for the company, including high-profile departures, game shutdowns and multiple studio closures or consolidations. Earlier this year, J.P. Morgan sold the majority of its stock in the company. At the very least, Zynga is looking to keep its current stable of executives on board with the promise of larger salaries. Alongside its financials, Zynga announced that Draw Something 2 is launching today. Dan Porter, former CEO of Draw Something studio OMGPOP, left Zynga earlier this month.
