Revenues down as Zynga posts annual loss

Zynga’s troubles to adapt to a mobile-led market continue, with its 2014 fiscal results showing a net loss of $226m.

Of this, $129m was attributed to stock-based expenses, $7m to income tax benefit and $24m to the expense of its ongoing restructuring.

Revenues came in at $690m for the year – down 21 per cent compared to 2013 – while online game revenues reached $537m, down 29 per cent year-on-year. Advertising revenue offered more positive news, up 34 per cent year-on-year to $153m.

Zynga also announced the closure of its China studio, resulting in job losses for all 71 employees at the Beijing branch. However, the closure will result in annualised cost savings of $7m.

Develop has more details.