Glu Mobile slips about 10% after it reports loss for Q4

Glu Mobile (GLUU) reported its fourth quarter 2018 earnings results. The mobile game publisher reported a loss of 1 cent per share on revenue of $95.6 million. Analysts had expected the company to report first time quarterly profit in the three years on revenue of $95 million. Shares of Glu Mobile slumped more than 10% in the after-hours.

While revenue grew 19% year-over-year, bookings increased 18% to $98.2 million, driven by the strong performance from Growth Games.

By geography, bookings from North America jumped 20% year-over-year to $81 million. Bookings from APAC region also surged 20% to $11.8 million. By platform, iOS bookings dropped to 61% from 65% in the prior year, while Android bookings grew 39% compared to 35% in the year-ago quarter.

For the first quarter of 2019, Glu expects bookings to be in the range of $88 million to $90 million. For full-year 2019, the San Francisco, California-based company upgraded its outlook, reflecting the anticipated bookings contributions from the two games that are currently in beta. The bookings for the year are expected to be in the range of $435 million to $445 million.

Glu Mobile daily active users count dropped to 3.2 million versus 3.8 million. Monthly active users count also dipped to 21.1 million from 28.6 million in the prior year.

“Our strong fourth quarter performance capped off a great year for Glu and our shareholders. Bookings for the full year grew 20% on the strength of our core business driven by the successful execution of our Growth Games strategy,” said CEO Nick Earl.

Glu Mobile stock, which reached the double-digit mark after 2007 with a day’s high of $10.41 during the regular trading session, ended Monday at $10.20, up 2.82%.

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