Social gaming firm Zynga has reported a 36% year-on-year decrease in revenue to $203m for the third quarter that ended 30 September 2013, compared to the corresponding period last year.
The company reported bookings of $152m for the quarter, which is a 40% drop against the same period last year.
Zynga CEO Don Mattrick said that he is pleased with the company’s Q3 performance which exceeded its guidance both in terms of bookings and adjusted EBITDA.
"We are encouraged to see sightlines to growth and expect to be profitable for the full year on an adjusted EBITDA basis," Mattrick said.
The company reported adjusted EBITDA of $7m for the third quarter of 2013 that declined compared to $16m for the same period previous year.
Online game revenue decreased 39% to $174m, while the advertising revenue went down by 9% to $28m compared to the third quarter of 2012.
During the quarter, the company’s games including FarmVille 2, Zynga Poker, and FarmVille accounted for 22%, 19% and 18% of online game revenue, respectively.
Zynga expects its revenue to be between $175m and $185m during the fourth quarter of 2013, while its net income is estimated to be in the range of $31m to $21m.
