Social gaming developer Zynga just can’t seem to catch a break. The company made the crucial decision to replace Mark Pincus as CEO but things are only going to get worse before they can get better. This week, Zynga will be releasing its second-quarter results for 2013. While the company has seen a 40% increase this year, investors do not expect this trend to continue.
As they await the results for the past few months, they remain pessismistic about the company’s potential earnings for the quarter. According to Value Walk, analysts anticipate that Zynga will lose 17 cents per share. As such, the company’s year-over-year profits will decrease by 44%, from $332 million to just $185 million.
Zynga has admitted that profits will not be steady over the course the next few months, but this does not fare well with investors. They are growing impatient with the social gaming developer, and it is unlikely that they will get around while Zynga gets its act together. So, it seems that now is the perfect time for Don Mattrick to take over as CEO.
Mark Pincus has handed the reigns over to the former XBOX executive, and the gaming world anticipates that he will turn things around for the company. Unfortunately, Mattrick left Xbox amidst a controversy during the E3 gaming conference. The console gaming manufacturer failed to impress gamers, and fell into the shadow of the Sony Playstation.
So, Mattrick and Zynga seem to be underdogs in their own rights. Now is the time for both to turn things around and make a positive mark in the social gaming industry – but only time will tell if Zynga can restored to its former glory.