Zynga Inc (NASDAQ:ZNGA) has disclosed that its full year as well as fourth quarter financial results will be released on February 7, 2018. Besides the quarterly earnings letter from the company’s management, financial guidance for the first quarter of this calendar year will also be offered. The management team of the games developer will also host a conference call on the same day to discuss the financial performance of the company.
The announcement by Zynga comes in the wake of the video game sector trade association, Entertainment Software Association (ESA) reporting that revenues in the industry increased by 18% last year to reach a figure of $36 billion. In 2016 revenues were a little over $30 billion. This revenue consists of software, hardware, peripherals, in-game subscriptions and in-game purchases.
According to ESA, revenues which were not included were digital sales of 3DS and Switch games well as PC digital sales of Microsoft Corporation (NASDAQ:MSFT), Electronic Arts Inc. (NASDAQ:EA), Uplay, Origin, Battle.net and Sony Corp (ADR)(NYSE:SNE). The revenue figures were based on data obtained from market research firm NPD and supplemented with data from Alphabet Inc (NASDAQ:GOOGL) Google Play and Apple Inc. (NASDAQ:AAPL) App Store collected by App Annie, an analytics firm.
According to the NPD Group revenues from video game hardware was $4.7 billion last year and this was an increase of 28% from 2016 when revenues recorded were $3.6 billion. The value of digital and physical games sold on handhelds and consoles, including Nintendo platforms, also rose by 6%.
Segments that saw a decline included personal computer games where sales fell by 20% last compared to the year before. In 2016 the value of PC games was $342 million but last year the figure was $275 million.
Per NPD the video game that brought in the highest number of revenues both from digital and physical sales was Call of Duty: WWII. In second place was NBA 2K18 while Destiny 2 came in third place.
Outside the United States, China has emerged as the third most valuable market for mobile games in the world behind Japan and the United States according to App Annie.
On Friday shares of Zynga Inc fell by 0.80% to close the day at $3.72 per share.