Glu Mobile (GLUU) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $-0.03 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.05. The company posted revenue of $48.36 million in the period, compared to analysts expectations of $47.16 million. The company’s revenue was down -13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.
Many Wall Street Analysts have commented on Glu Mobile. Shares were Reiterated by Wedbush on Jul 29, 2016 to “Neutral” and Lowered the Price Target to $ 2.45 from a previous price target of $2.65 .
Glu Mobile closed down -0.01 points or -0.43% at $2.34 with 12,32,859 shares getting traded on Friday. Post opening the session at $2.32, the shares hit an intraday low of $2.31 and an intraday high of $2.38 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jul 18, 2016, Gregory J. Cannon (Vice President, Finance and IR) sold 55,000 shares at $2.50 per share price. According to the SEC, on Jun 3, 2016, Ann Mather (director) sold 25,000 shares at $2.36 per share price. On May 20, 2016, William J Miller (director) sold 20,100 shares at $2.34 per share price, according to the Form-4 filing with the securities and exchange commission.
Glu Mobile Inc. develops publishes and markets a portfolio of games. The Company offers games to a cross section of users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts such as the Apple App Store Google Play Store and Amazon Appstore among others. The Company creates games based on its own brands including Blood & Glory Contract Killer Deer Hunter Diner Dash Eternity Warriors Frontline Commando Gun Bros and Heroes of Destiny. The Company also creates games based on third-party licensed brands including Kim Kardashian: Hollywood Robocop: The Official Game and Hercules: The Official Game as well as its own branded games that incorporate third-party licensed brands properties and other content such as Racing Rivals and Tap Sports: Baseball. It released around 16 free-to-play games. It has around eight global studios that create and develop its games.