Boston, MA 01/08/2013 (wallstreetpr) – USA-based online gaming company Zynga Inc (NASDAQ:ZNGA) has successfully added renowned digital currency Bitcoin in collaboration with Bitcoin’s parent company Bitpay, currently available for select Zynga games including the widely popular FarmVille 2, CastleVille, Hidden Chronicles, Hidden Shadows and CityVille. Around the same time, Bitcoin prices jumped briefly over the $1,000 mark yet again.
The Bitcoin plan:
The impact on Zynga’s stocks has been minimal so far with the San Francisco-based firm’s stocks changing little around the $4 mark. Bitcoin, on the contrary, has seen better dominance as a currency with increasing applications worldwide ranging from purchases of commodities such as hamburgers at restaurants to many intangible products, in addition to gaining prominence as a virtual currency for many online games.
The Bitcoin plan, which has been on the anvil for some time, is a major hope of Zynga Inc. (NASDAQ:ZNGA) for uplifting revenue from its games including the world-famous Facebook-based online social game Farmville. Though improved financial results showed up in Zynga’s recent third quarter of 2013, underlining controlled losses and a better recovery, these results are largely owing to the game publisher’s recently undertaken massive cost-cutting decisions and renewed focus on its mobile games. Zynga is yet to demonstrate full-year profits, with its revenue anticipations in the range of $175 million to $185 million during the current fourth quarter.
Zynga and Facebook:
Zynga, once a fast-growing gaming software provider with good potential for revenue emanating from the Facebook Inc (NASDAQ:FB) platform, went through recent revenue bottlenecks, losing financial footing, due to dynamic changes in user preferences who increasingly preferred online gaming on the tablets and smartphones, deserting Zynga’s desktop-based solutions. Not to be left out of the race, Zynga quickly restructured itself internally and strategically in an effort to adapt to the dynamic gaming and its customer segments.
Zynga shares were trading on NASDAQ at $4.145 at the close of their January 07 trade, up by 2.6% from their previous $4.04 close. After-hours trading figures inched further to around $4.16.
