Categories AlphaGraphs, Earnings, LATEST, Technology

Glu Mobile’s stock crashes after Q2 results miss estimates

Glu Mobile Inc. (NASDAQ: GLUU) missed market expectations for revenue and earnings in the second quarter of 2019, sending the stock crashing 23% during aftermarket hours on Thursday. The consensus estimate was for earnings of $0.05 per share on revenue of $101.6 million.

Total revenue grew 6% year-over-year to $95.5 million. Total bookings grew 3% to $101.9 million.

The company reported net income of $2.5 million, or $0.02 per share, compared to a net loss of $4.4 million, or $0.03 per share, last year.

Glu Mobile quarterly DAU and MAU trends

Glu had 3.2 million daily active users and 19.1 million monthly active users. Average bookings per billable transaction totaled $6.67. Total ad bookings amounted to $12.9 million and ad revenues comprised 13% of total bookings.  

During the quarter, the company launched WWE Universe and Diner DASH Adventures globally. Bookings in Growth Games, Design Home and Covet Fashion saw double digit growth.  

Eric R. Ludwig, CFO, said, “We revised our annual guidance primarily to reflect the timing of new launches, contribution from newly launched titles and incremental UA investment to take advantage of favorable ROI opportunities. The 3-phase plan we laid out in early 2017 is still firmly in place and we are committed to our strategy of developing Growth Games that can stack bookings and deliver growing profits over time.”

For the third quarter of 2019, Glu expects bookings of $110-112 million. For the fourth quarter of 2019, the company expects bookings of $101.5-103.5 million. For the full year of 2019, bookings are expected to be $406-410 million.

Also Read:  Earnings: United Airlines (UAL) posts wider-than-expected Q3 loss; stock drops

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Starbucks (SBUX) stock falls after Q4 earnings

Starbucks (NASDAQ: SBUX) reported fourth-quarter 2020 financial results after the closing bell on Thursday. The coffee chain reported an 8% decline in Q4 revenues to $6.20 billion, which was better

Facebook reports stellar results in Q3

Facebook (NASDAQ: FB) reported third-quarter 2020 financial results after the closing bell on Thursday. The social media giant reported a 22% spike in Q3 revenue to $21.47 billion, which was

AMZN Earnings: All you need to know about Amazon Q3 2020 earnings results

Amazon.com, Inc. (NASDAQ: AMZN) reported third quarter 2020 earnings results today. Net sales increased 37% year-over-year to $96.1 billion. Net income increased to $6.3 billion, or $12.37 per share, from

Tags

Top