Zynga profits drop 90-percent, further threatening its IPO status

zynga profits drop 90 percent further threatening its ipo status poker bot addIt hasn’t exactly been an ideal march towards the fabled riches of a successful IPO for Zynga, the maker of social networking games like FarmVille and Texas HoldEm Poker. At one time, the company’s proposed IPO was said to put the value of the company at as much as $20 billion. That may have been a bit inflated, but even at $10 billion, no one involved would need to fly economy class anymore.

But it was a bumpy road from private towards public for Zynga, and the initial push towards IPO was delayed by general market turmoil. The SEC also requested more information from Zynga, which was one of many factors contributing to the company further delaying its IPO bid until later this year.

To add to the problems, Develop is reporting that Zynga has seen a massive drop in profits in the second quarter ending on July 30. In one year, the San Francisco-based company’s profits dropped from $14 million to $1.4 million, a drop of 90-percent.

It isn’t quite as bad as it sounds though. The loss of profits will likely hurt the potential stock price, which in turn could further damage the plans for the IPO, but Zynga’s revenue saw a 115-percent increase in the same period. That suggests that the bulk of Zenga’s money was spent on expenditures to help it expand.

Regardless of the reasons for the drop off, the timing could not be worse. Zynga has two new games on the way that could bolster profits, but the looming IPO may still suffer as a result, and the continued bad news from Wall Street won’t help much either.

Mobile

Rekindled yet again, Nokia’s next-gen phones offer more than just nostalgia

HMD Global, a startup that designs and builds Nokia Android smartphones, wants to put the Nokia brand name back “where it belongs.” It helps that it’s made up of ex-Nokia employees. We go behind the scenes to see how HMD formed.
Mobile

Apple’s iPhone battery offer was reportedly way more popular than expected

As many as 11 million iPhone owners reportedly made use of Apple's cheaper battery replacement offer that launched in 2018 in response to the iPhone throttling debacle — some 10 times more than the company had apparently expected.
Gaming

If we get a Nintendo 64 Classic, it needs to have these games

The Nintendo 64 introduced a long list of top-tier games, but which were the iconic platform's best? From Mario Party to Ocarina of Time to NFL Blitz, check out our picks for the best N64 games.
Gaming

It's dangerous to go alone! Have fun with friends in our favorite co-op games

Video games don't always have to be so brutal, dog-eat-dog experiences! Here are some of our all-time favorite co-op games across a range of different platforms, genres, and difficulties.
Gaming

Dataminers discover SNES games, more emulators for Nintendo Switch Online

Nintendo Switch Online may soon launch SNES games and more emulators, according to data miners. The list of hidden SNES titles include Breath of Fire 2 and Star Fox 2, while the other emulators may be the Nintendo 64 and Nintendo GameCube.
Gaming

‘RollerCoaster Tycoon 2’ ride takes 12 years to complete

A RollerCoaster Tycoon 2 player has constructed a coaster in the game that will take more than 12 years to complete from beginning to end, and is actually a tiny ride taking up a small portion of the landscape.
Product Review

'New Super Mario Bros. U Deluxe' is 2D platforming wizardry

New Super Mario Bros. U Deluxe is the latest Wii U game to come back from the dead on Switch. And wow, it’s much better than we remembered.
Gaming

‘Battlefield V’ adds Squad Conquest mode in ‘Lightning Strikes’ update

Electronic Arts and DICE have detailed what is included in the Battlefield V update Lightning Strikes. The update includes access to the mode Squad Conquest through the end of January.
Gaming

Here's everything you need to know to trade in 'Pokémon Go'

After literally years of waiting, Pokémon Go finally gives trainers the option to trade Pokémon with others. It's not easy, though, and the cost is quite high if you try trading with strangers.
Gaming

You're never too broke to enjoy the best free-to-play games

Believe it or not, free-to-play games have evolved into engaging, enjoyable experiences. Here are a few of our favorites that you can play right now, including Warframe and the perennially-popular League of Legends.
Gaming

‘Rocket League’ is the latest game to get full cross-platform play

Psyonix has announced that Rocket League now supports full cross-platform play across PlayStation 4, Xbox One, Nintendo Switch, and PC, joining Fortnite as the only games to do so.
Gaming

Here's what you need to know about 'World of Warcraft: Battle for Azeroth'

World of Warcraft: Battle for Azeroth is the latest expansion for the now 14-year-old MMORPG. It goes back to the roots of the Alliance vs. Horde conflict. Here's what you need to know.
Virtual Reality

Think virtual reality is just for games? These awesome apps will change your mind

Virtual reality isn't all about gaming. Swim with turtles, paint in 3D, and immerse yourself in some unique experiences the platform has to offer with our curated list of the best VR apps.
Gaming

Latest ‘Fortnite’ update channels Halo with a scoped revolver

The latest update for Fortnite, update 7.20, is now available, and it brings a new Scoped Revolver weapon to the game alongside the returning Glider item and a limited-time Snipers-only mode.