Zynga wants to continue expanding its flagship games

According to Zynga (ZNGA), it’s planning to introduce new products to drive growth this year. Its management has declared its turnaround complete and says that it’s aiming to position itself for significant growth in 2019 and beyond. Zynga’s new games for 2019 will start arriving on the market in the second half of the year. The company says the new products will enhance its growth potential in 2020.

Even as Zynga builds new products, the company will continue to develop its flagship games, which it fondly calls its “forever franchise.” The forever franchise includes games such as Words with Friends and Zynga Poker.

Zynga Banks on New Products to Sustain Its Recovery

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Zynga’s revenue rose 7.0% YoY

Zynga generated revenue of $907 million in 2018, an increase of 5.0% YoY (year-over-year). In the fourth quarter, Zynga reported revenue growth of 7.0% YoY to $249 million supported by the strong performance in its Mobile Games segment.

Zynga’s fourth-quarter top line performance exceeded expectations, as the company had originally guided for fourth-quarter revenue of $235 million.

Game developers put on a good show

The fourth quarter of 2018 was generally great for many major game developers and publishers. Electronic Arts (EA), Activision Blizzard (ATVI), and Glu Mobile (GLUU) reported revenue rises of 11%, 17%, and 19% YoY, respectively, in the quarter. Revenue soared close to 160% YoY at Take-Two Interactive Software (TTWO) in the quarter.

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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.

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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.

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IEA Again Slashes Its Oil Demand Growth Estimate

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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.