Glu Mobile: 3Q Earnings Snapshot
SAN FRANCISCO (AP) _ Glu Mobile Inc. (GLUU) on Tuesday reported a loss of $256,000 in its third quarter.
On a per-share basis, the San Francisco-based company said it had a loss of less than 1 cent. Earnings, adjusted for stock option expense and non-recurring costs, came to 5 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The mobile game maker posted revenue of $99.3 million in the period. Its adjusted revenue was $100.7 million, which beat Street forecasts. Four analysts surveyed by Zacks expected $96.5 million.
For the current quarter ending in December, Glu Mobile said it expects revenue in the range of $94.3 million to $96.3 million.
The company expects full-year revenue in the range of $380.7 million to $382.7 million.
Glu Mobile shares have increased 91 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.94, a rise of 87 percent in the last 12 months.