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Glu Mobile (GLUU) Tops Q1 EPS by 2c; Guides Below the Street

May 3, 2016 4:14 PM EDT

Glu Mobile (NASDAQ: GLUU) reported Q1 EPS of ($0.03), $0.02 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $54 million versus the consensus estimate of $48.2 million.

“Our first quarter guidance outperformance was primarily due to the strong Kendall and Kylie launch as well as the ongoing success of Kim Kardashian: Hollywood and Cooking Dash,” stated Niccolo de Masi, Chairman and Chief Executive Officer of Glu. “We are delighted with the traction of ourTap Sports Baseball 2016 title which is currently the top grossing baseball game on the U.S. App Store for iPhone and has positioned us to grow revenues from this franchise for the third year in a row.”

De Masi continues, “During the quarter, our new studio leadership team implemented a number of operational improvements which we expect to enhance our product delivery as well as to reduce the run-rate revenue required for Glu to breakeven. The combination of the new studio label system, along with a strong line-up of new titles, including Britney Spears: American Dream andGordon Ramsay: Dash, positions Glu for growth during the second half of 2016 and beyond.”

GUIDANCE:

Glu Mobile sees Q2 2016 EPS of ($0.05)-($0.06), versus the consensus of ($0.04). Glu Mobile sees Q2 2016 revenue of $46-49 million, versus the consensus of $58.98 million.

Glu Mobile sees FY2016 EPS of ($0.11)-($0.16), versus the consensus of ($0.09). Glu Mobile sees FY2016 revenue of $215-235 million, versus the consensus of $268.8 million.

For earnings history and earnings-related data on Glu Mobile (GLUU) click here.



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