Zynga’s Financials Show a Company that Continues to Struggle

It’s no secret that Zynga is in trouble. Just yesterday they reported larger than expected losses and a decline in the number of people playing their online games. In an article published today, New York Magazine looks at the company and tries to make sense of what’s going on.

The article centers on Dan Porter, who Zynga hired when they bought his company OMGPOP, the developers behind Draw Something and the just-released Draw Something 2. Earlier this month, Porter mysteriously left the company, leaving very few executives who know how to make good mobile games. The article states:

I’m worried about what Porter’s departure says about Zynga. After yesterday’s dismal results, the company appears to have very little gas left in the tank, and few new ideas. Clearly it has some management issues that may eclipse even a wild success with Draw Something 2. Maybe its jig is simply up — it sold as many purple cows and virtual bridges as Facebook time-wasters were willing to buy.

Read the full article for more.

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