Zynga Inc has reported revenue that beat analysts’ estimates, propped by an Omicron-induced high interest in mobile gaming.
Adjusted revenue rose 4% in the fourth quarter to $726.6 million, beating the average analyst estimate of $711.3 million.
Adjusted earnings before interest, tax, depreciation and amortization were $147 million compared with $90 million a year earlier.
Zynga reported a net loss of $67 million.
Weeks ago, Zynga agreed to be acquired by Take-Two Interactive Software Inc in a deal valued at $11 billion.
Zynga too had recently bagged a $250 million acquisition of mobile game ad company Chartboost.
A thorn in Zynga’s rose seem to be the changes to Apple Inc.’s privacy policy. The changes have taken a toll on Zynga’s in-game advertising business.
Zynga reported 37 million daily active users, up 3% from a year earlier but the average in-app spending per user decreased by 1%.
Zynga has also been making moves into nonfungible tokens and the blockchain.
Zynga now has a vice president of blockchain, Matt Wolf.
Zynga plans on expanding its blockchain team from 15 to as many as 100 people this year, according to Wolf.
Zynga didn’t hold an analyst call or offer guidance due to the pending acquisition.
