Google wants to help developers make more money
Alphabet’s (GOOGL) Google is introducing a new feature designed to expand monetization options for Android developers. The feature is called Rewarded Products, and it allows Android developers to make money even from free users of their apps. Via this feature, free app users watch a video advertisement, and after that, they’re rewarded with points in the form of virtual goods or in-game currency.
With Rewarded Products, Google is trying to help Android developers generate more earnings from their work. At the moment, Apple’s iOS platform is where the money is for app developers. According to the latest report from Sensor Tower, the iOS platform generated $46.6 billion in app revenue in 2018 compared to the $24.8 billion generated by the Android platform.
Trying to be nicer to developers
There’s tight competition for app developers among app store operators such as Google and Apple. As a result, these companies are trying out various ways to make their platforms more appealing for developers. Apple, for instance, is considering an overhaul that would allow developers to create an app once and have it run on any device—whether that device is an iPhone or a Mac computer.
App store operators take a cut of the app sales made on their platforms, so their encouraging more developers to come to a platform expands their revenue opportunity. Google parent Alphabet reported revenue of $39.3 billion in the fourth quarter, an increase of 22% YoY (year-over-year). Revenue jumped 39% YoY at Yandex (YNDX) and 22% YoY at Baidu (BIDU) in the same quarter. Microsoft (MSFT) and Facebook (FB) recorded revenue rises of 12% and 30% YoY, respectively, in the quarter.
Google (GOOGL) recently launched a language app called Bolo to help kids in India improve their English and Hindi reading skills.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.