In the current environment, it is hard to predict how events will unfold, but as shelter-in-place rules begin to be lifted, we expect trends to normalize. Collectively, these will more than offset the strong improvement in operating performance year-over-year. Obviously, you have a couple of games. It carried through into April. It’s in the top of the charts. Please note that we manage our business based on topline measures including revenue, which is comprised of the change in deferred revenue and bookings. You guys talked about assuming a normalization in the second half of 2Q. Could you just clarify what does that mean? And so, there’s a lot of new things for them to do and a lot of new content for them to consume. Our global workforce has rallied, adapting quickly to keep pace with the increasing demand for innovative bold beats, while also making strong progress on our new game pipeline. Given the strength in engagement and monetization in Empires & Puzzles, Merge Dragons! In 2020, we expect a net loss of $245 million, which includes $200 million of contingent consideration expense and $150 million net increase in deferred revenue. So just sort of how you think about maybe getting the games out a little bit faster?In addition, we will also discuss non-GAAP financial measures. And in the case of Words With Friends, we’ve seen very positive audience trends overall. Now, I’ll turn the call over to Frank for his opening remarks.We reported a net loss of $104 million, $78 million below our guidance and an improvement of $25 million versus our net loss of $129 million a year ago. The part that we're optimistic about is that a lot of the reactivations are coming into games that have improved a lot since the last time they were in. Thanks.Great. Your line is open.Great. Given the higher level of uncertainty around the COVID-19 crisis, there is the potential for a wider range of outcomes, both positive and negative, as it relates to our ultimate business results. Should our recent acquisitions continue to perform ahead of expectations, we may see a further increase in the cumulative contingent consideration expense.Total stock-based compensation expenseReconciliation of Cash Provided by Operating Activities to Free CashCONSOLIDATED STATEMENTS OF CASH FLOWScompute net income (loss) per shareNet cash provided by (used in) operating activitiesOur guidance assumes that live services will drive the vast majority of our topline performance as we expect our forever franchises to collectively scale throughout 2020 and anticipate initial contributions from new games that are targeted to launch in the second half of the year.
[Operator Closing Remarks]Our guidance assumes that live services will drive the vast majority of our top line performance, as we expect our forever franchises to collectively scale throughout 2020, and anticipate initial contributions from new games that are targeted to launch in the second half of the year. And so, from our perspective, when we look forward into the bold beat calendar for E&P the rest of the year, the team in Helsinki has really developed a very ambitious calendar. But I imagine the economic environment in the second half of the year might accelerate the number of private companies looking for a stable home within the Zynga portfolio. So, on Puzzle Combat, we're in soft launch. As I’ve said in the past, that doesn’t really give you an indication of when in the second half or how many games will turn up.
So, I understand the reporting has changed regarding bookings by franchise. In 2020, we also expect year-over-year user pay growth to more than offset the modest declines in advertising due to the recent pressure on advertising yields.Hey, Frank, Ger. And so, there's a lot of new things for them to do and a lot of new content for them to consume. And we’re constantly iterating and adjusting to get the games into position so that they deliver long-term engagement and can be forever franchises for us for many years.The other thing as it relates to normalization, we’re also obviously watching how the channels are operating from a user acquisition perspective. If you look at some of the disciplines that are important in the games that we build and the bold beats that we're building, things like environmental artists, modelers, data scientists, product managers, they can do their jobs very effectively in a remote setting. So when you have brands as old as Zynga Poker and Words With Friends, 10 years plus, you're seeing a lot of folks, while they are sheltering in place, go to trusted brands or brands that they know. It’s a game that is highly social in nature, and we’re really grateful to see how people are engaging with the game and connecting with friends and loved ones during this time.
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