Zynga beat analysts’ estimates and had surging revenues but still reported a net loss for 2011 of $978.6 million, compared to earning $7.689 billion during 2010. We’re looking at the numbers that comply with U.S. standards for reporting earnings, which are labeled in the release as non-GAAP (Generally Accepted Accounting Principles).
The leading developer on Facebook had 2011 revenues of $1.14 billion, an increase of 91 percent over the previous year.
Game revenue was $1.07 billion, increasing 85 percent over the previous year; advertising revenue grew even more, up 226 percent compared to 2010, totaling $74.5 million.
Zynga’s bookings during the year were $20 million more than revenues, totaling $1.16 billion, for a 38 percent increase over 2010 bookings.
These numbers reflect launches of 12 new games during 2011, four of them on the web and eight of them mobile. At the close of the fiscal year, Zynga had the top five most played games on Facebook based on daily active users, with CastleVille leading the pack.
The company’s stock price had risen almost 35 percent since Facebook filed for an initial public offer on February 1.
Zynga’s shares are going down in after-hours trading, but are still in a range that’s roughly 40 percent higher than what the stock debuted at in December, $10.
The earnings release says Zynga expects higher bookings in 2012, ranging from $1.35 billion to $1.45 billion, with more of the value coming in during the last half of the year, akin to how most of 2011′s money registered during the fourth quarter.
The game maker’s Founder and Chief Executive Officer Mark Pincus said in the earnings release:
2011 was another milestone year for Zynga’s mission of connecting the world through games. We are seeing social games and more broadly play become one of the most popular pastimes on web and mobile. Zynga set new records in the year in terms of audience size, revenues and bookings.
We saw great momentum in mobile and advertising and ended the year with a strong pipeline of new games. We are excited about the opportunities in front of us to continue delighting our current players and to bring play to millions of new people.
The company posted on its website a copy of the slides accompanying the earnings announcement, and here’s the link to them.