Facebook’s Payments Revenue Declines Quarter over Quarter

by Mercator Advisory Group 0

Facebook’s revenue from payments and fees declined from $192 million in Q2 to $176 million in Q3, the company reported in a recent SEC filing.

From All Things D:

“Gaming on Facebook isn’t doing as well as I’d like,” Facebook CEO Mark Zuckerberg said on the company’s earnings call on Tuesday. He made it a point to finger Zynga’s serious underperformance this quarter, a 20 percent decrease compared to the year-ago quarter. Whereas Zynga was responsible for 10 percent of Facebook’s overall revenue last quarter, that number decreased to 7 percent in today’s Q3 numbers.

There is some good new though. Facebook’s revenue from payments and fees increased 13% year over year and the company is having some success attracting new game developers like Kixeye and King.com. If Zynga’s games continue to struggle, additions like these will soften the impact to Facebook’s revenue.

Click here to read more from All Things D.