Zynga Q1 financials note $61m loss, decline in Daily and Monthly Active Users

Zynga released its Q1 FY14 financials last night, and reported a loss of $61 million, compared to a $25 million loss with a $4 million profit during the same quarter of 2013.

The company reported $168 million in revenue for the quarter, which is down 36.3% over the prior year.

Daily Active Users (DAU) for the company were down 46.2% year-over-year to 28 million, and Monthly Active Users (MAU) declined 51.4% to 123 million.

Web DAUs and mobile DAUs were 12 million and 16 million for Q1, respectively. Web MAUs and mobile MAUs, on the other hand, came in at 61 million and 62 million, respectively.

During the quarter, the company launched FarmVille 2: Country Escape for iOS and Android in 155 different nations on iOS and 71 on Android.

Zynga CEO Don Mattrick said the company is looking at expanding its reduction program, which will hopefully improve profitability by the end of 2014; however, the firm is projecting a between a $65-$75 million loss for Q2.

It was announced yesterday that Zynga founder Mark Pincus would be stepping down all duties at the company but will remain chairman of the board.