Zynga Reports $22.8 Million Loss

Mobile and casual gaming giant Zynga has been forced to lower its outlook for the remainder of 2012 after reporting a 22.8 million dollar loss in the second financial quarter of this year.

The company released a statement saying tha that the steep drop was caused by "delays in launching new games, a faster decline in existing web games due in part to a more challenging environment on the Facebook web platform, and reduced expectations for Draw Something."

When compared to a $1.3 million profit for the same quarter, this is not exactly rosy news for the company. One cannot help but wonder whether Zynga's brand of Facebook style games has run its course of popularity.

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