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Zynga (ZNGA) Q3 2021 earnings release beats revenue estimates, increases full year guidance

Zynga has released its Q3 2021 earnings, showing solid performance for the entertainment company.

November 8, 2021 2:10 PM

Zynga is one of the biggest video game companies in the world, with titles like Farmville and Words with Friends in its arsenal. With that, many eyes were on Zynga (ZNGA) as it shared its Q3 2021 earnings. The report is out now, and shows that Zynga performed well over the previous quarter, and that it expects strong performance in the future.

Zynga’s Q3 2021 financial earnings were shared today on its investor relations website. It’s here that we learn that Zynga pulled in $705 million in revenue in the third quarter, which beats the $665 million expectation. What’s more, Zynga also provided guidance for the next quarter. Year-over-year from 2020 to 2021, Zynga is expecting a total revenue increase of 41%

“We delivered strong quarterly results ahead of guidance, including record Q3 revenue and bookings primarily driven by another standout quarter from Rollic’s hyper-casual portfolio,” said Frank Gibeau, Chief Executive Officer of Zynga. “Today, we are raising our full year 2021 guidance and are on track to finish the year with Zynga’s best-ever annual topline performance and the largest mobile audience in the company’s history. We are well positioned for 2022 and beyond with multiple growth catalysts in place to drive our continued expansion.”

The company’s stock performed well after hours following this news, hitting a high of $7.32 USD a share. Zynga is also hosting a conference call today where executives from the company will speak about its newly released earnings report. If there are any further announcements made during the call, we’ll be reporting on them.

Zynga’s (ZNGA) Q3 2021 earnings report showed some great earnings as well as some confident guidance from the mobile gaming company. Interestingly enough, Zynga also announced that it was going to be getting into the NFT space, integrating The Blockchain into its gaming ecosystem. For more on Zynga’s business, stick with us here on Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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