You can play anytime, anywhere. It doesn't sound like productivity is an issue. Those game teams are on known tech. See its 7 best stocks now.Zynga, which belongs to the Zacks Gaming industry, posted revenues of $424.88 million for the quarter ended March 2020, surpassing the Zacks Consensus Estimate by 4.78%. We made some adjustments in a couple of areas where we saw some challenges. And so, versus other categories of entertainment or higher priced ticket items inside the entertainment space, I think that free-to-play mobile games, especially ones that are ad-driven, are in a position to be able to reach audiences in a period that could see that type of dynamic.Revenue was $404 million, comprised of bookings of $425 million, offset by a net increase in deferred revenue of $21 million.
So you're correct in saying that we held on to some of the EBITDA. It's debatable when it's actually going to normalize. On a non-GAAP basis, we expect to see modest improvement in operating leverage from R&D and G&A, which should be more than offset by increased marketing investments on both our live services and new game launches. This was primarily driven by higher contingent consideration expense and increased marketing investments versus the prior year. You guys talked about assuming a normalization in the second half of 2Q. That probably understates the fact that a lot of the current players are playing more and we're seeing all new players come in. But we are seeing a lot of players that have been away from a franchise for a year or more come back in to a game.
We ended Q1 with a deferred revenue balance of $453 million versus $287 million a year ago.Turning to 2020, our revised guidance is as follows: revenue of $1.65 billion, up $328 million or 25% year-over-year and up $50 million versus our prior guidance; a net increase in deferred revenue of $150 million, down $92 million or 38% year-over-year and in line with our prior guidance; bookings of $1.8 billion, up $236 million or 15% year-over-year and up $50 million versus our prior guidance; a net loss of $245 million versus net income of $42 million in 2019 and an increase of $115 million versus our prior guidance. Your line is open.With that, I would now like to turn the call over to Ger to discuss our Q1 results in further detail, as well as our outlook for the year.Our next question comes from Mike Hickey with Benchmark Company. And just a high-level follow-up. Thanks.In terms of the second question, when you go back and look at recessionary times in the video game industry, some of this predates fee to play mobile. Each of the company logos represented herein are trademarks of Verizon Media; Microsoft Corporation; Nasdaq, Inc.; Dow Jones & Company; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.NYSE and AMEX data is at least 20 minutes delayed. There's a lot of new features and a lot of new content to engage in. This compares to year-ago revenues of $359.49 million. We're definitely looking at new platforms in terms of development beyond just Snap. I was looking at the mobile DAUs. Second, we have a highly diversified portfolio of live services anchored by our forever franchises, which has entertained players for years. Is that mainly driven by the headwinds in ad revenue and how that kind of flows through from a profitability standpoint? Thanks so much.Thank you. Operating leverage will ultimately be a function of our live services performance, user pay versus advertising mix, timing of our new game launches and the level of marketing invested in scaling our live services and new titles.In addition, while we anticipate strong performance in the first half of 2020, it is uncertain how the current COVID-19 crisis will progress, as well as how it will affect our business for the remainder of the year. Q1 2020 Earnings Slides 381.7 KB. [Operator Instructions] I would now like to hand the conference over to your speaker today, Rebecca Lau, Vice President of Investor Relations and Corporate Finance. But video games interactive entertainment is a very appealing and very efficient way to entertain yourself in a time of economic downturn. Gerard Griffin — Chief Financial Officer.
Our business fundamentals are strong, and we are continuing to execute our multi-year growth strategy.But as you would expect, there is -- in mobile gaming, in particular, there is a strong weighting of obviously other entertainment companies and gaming companies advertising in our space, given that's where gamers are. So just sort of how you think about maybe getting the games out a little bit faster?Our next question comes from Matthew Cost with Morgan Stanley.
Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.As an alternative to using this form, you can send us your name and zacks account email with your request to privacy@zacks.com.This quarterly report represents an earnings surprise of -80%. If that were to recede and customer spend sort of wane, do you expect that to affect your business in any meaningful way?