FarmVille Developer Zynga Posts $63 Million Net Loss
Company projects a $52 and $57 million net loss for third quarter of the year; signs agreements with NFL and Tiger Woods to branch into sports.
FarmVille developer has posted a $63 million net loss in its second quarter 2014 financial results.
The company has projected its net loss for the third quarter of the year to fall between $52 and $57 million. Earlier this year, Zynga announced that company founder Mark Pincus would step down from his role as Chief Product Officer to "focus on serving as Chairman of the Board of Directors."
In the same earnings call, Zynga announced its plans to take its first steps into the sports genre, starting with football. The company has announced its signing of a multi-year licensing agreement with the National Football League and NFL Players Inc., the marketing and licensing branch of the NFL Players Association.
The agreements will allow Zynga to incorporate the use of real-life NFL teams and athletes in its software. Zynga released NFL Showdown today in select regions, a game in which players run a team by stepping into the role of coach, general manager, and owner.
Zynga has also announced the signing of golfer Tiger Woods to an exclusive, multi-year, multi-platform partnership. The deal will see Zynga create "breakthrough mobile games that bring the world of Tiger Woods golf to life." The first of these is expected to launch on mobile platforms next year.