Glu Mobile (GLUU) Reports In-Line Q3 EPS; Raises Booking Guidance

Glu Mobile (NASDAQ: GLUU) reported Q3 EPS of $0.07, in-line with the analyst estimate of $0.07. Revenue for the quarter came in at $158.5 million versus the consensus estimate of $136.25 million.

“We followed up a very strong second quarter with a better-than-expected third quarter that saw year-over-year bookings growth of 22% led by the continued strong performance of our Growth Games,” said Nick Earl, Chief Executive Officer. “Our focus on margin expansion led to significantly higher profitability driven by greater productivity from our marketing spend. We announced the title and genre of our new Crowdstar game, Table & Taste, which will serve the culinary category and complement our Crowdstar brand perfectly with a larger and more diverse addressable user base. We anticipate a very strong finish to the year driven by our core brands, Crowdstar and Glu Sports, as well as our growth initiatives. Looking ahead, our continued expected growth, future game launches, and strategic initiatives give us confidence as we enter 2021 with significant, positive momentum.”

GUIDANCE:

Raises bookings guidance to a range of $555.3 to $560.3 million and expects significantly higher bottom-line results for full year 2020

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

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• Eikon Therapeutics, Inc. (EIKN) Misses Q2 EPS by 163c
• KULR Technology Group (KULR) Misses Q2 EPS by 39c