Glu Mobile (GLUU) Misses Q4 EPS by 1c, Revenues Beat

Glu Mobile (NASDAQ: GLUU) reported Q4 EPS of $0.07, $0.01 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $112.9 million versus the consensus estimate of $103.62 million.

• Fourth quarter revenue up 18% year over year to $112.9 million; full year 2019 revenue up 12% to $411.4 million
• Fourth quarter bookings grow 10% year over year to $108.4 million; full year 2019 bookings reach record $423.3 million, up 10% year over year
• Record quarterly bookings from Design Home and Covet Fashion; highest fourth quarter bookings in the Tap Sports Baseball franchise’s history
• Record GAAP profitability of $10.8 million and $8.9 million and EPS $0.07 and $0.06 for the fourth quarter and full year 2019 respectively, a major milestone for the company
• Company provides 2020 full year bookings guidance on its core business to a range of $423 million to $433 million; no contribution from new titles included in updated 2020 guidance

Eric R. Ludwig, Chief Operating Officer and Chief Financial Officer, said, “We enter the year with momentum and believe we are well positioned for continued strong growth. We are excited about the recent updates on Disney Sorcerer’s Arena on retention and monetization and look forward to providing updates and guidance on the next earnings call. Our financial guidance for 2020 excludes any bookings contribution from new titles and reflects the confidence that we have in our core portfolio. We believe 2020 will be a transformational year as we expect to expand our core portfolio, stack additional bookings from our new title launches and focus on our two strategic growth priorities of cross-platform and acquisitions.”

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

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