Zynga Delivers Fourth Quarter Financial Results And Hits Targets

San Francisco-based game maker Zynga reported its fourth quarter financial results this week revealing a profit of $559,000 and revenue of $249 million.

According to the company’s CEO Frank Gibeau, the overall 2018 results showed that the company’s “turnaround is now complete.”

“Zynga’s turnaround is now complete, and we are well positioned for significant growth in 2019 and beyond,” Gibeau said to GamesBeat. “2019 looks good, and the business has a lot of momentum.”

For the period ended December 31st, revenue was up 7% from the same period a year ago. Bookings saw a 19% jump YOY at $267 million.

For the year, the company reported profit of $15.5 million, or 2 cents per share. Revenue was reported as $969.5 million.

Looking ahead, the company is expecting bookings to be $325 million for the first quarter.

The maker of “FarmVille” expects revenue in the range of $325 million for the first quarter. Analysts surveyed by Zacks are waiting for revenue of $222.4 million.

The company expects full-year revenue to be $1.35 billion.

Disclaimer: We have no position in Zynga Inc. (NASDAQ: ZNGA) and have not been compensated for this article.