Glu Mobile Earnings: Here’s Why Investors are Not Excited Now
Glu Mobile, Inc. (NASDAQ:GLUU) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 9.42%.
Glu Mobile, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.05 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Decreased 1.78% to $23.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Glu Mobile, Inc. reported adjusted EPS loss of $0.05 per share. By that measure, the company beat the mean analyst estimate of $-0.07. It beat the average revenue estimate of $17.14 million.
Quoting Management: “The second quarter demonstrated strengthening monetization trends as we successfully utilized our live-ops, direct marketing and advertising strategies,” stated Niccolo de Masi, Chief Executive Officer of Glu. “By year-end we are on track to launch new installments of the Deer Hunter, Eternity Warriors, and Frontline Commando franchises, as well as an exciting new IP in the motocross genre. All four of these titles will take advantage of our central GluOn games-as-a-service technology platform which supports online-only gameplay. GluOn features are expected to facilitate enhancements in monetization and retention across all Glu studios worldwide beginning in Q4 2013.”
Key Stats (on next page)…