Glu Mobile (GLUU) posted higher profits for the fourth-quarter and a better-than-expected outlook for the current quarter, sending GLUU stock up 20% in Thursday pre-market trading.
GLUU stock climbed after the GLUU reported EPS of 7 cents for the December quarter on revenue of $42.8 million. That easily topped the EPS of 0 cents on revenue of $32.2 million that Wall Street had estimated for GLUU, StreetInsider notes.
For the current quarter, GLUU predicted earnings of between 1 cent and 2 cents per share of GLUU stock on revenue of between $38 million and $40 million. That was better than the profit of 1 cent per share of GLUU stock on revenue of $29.1 million that analysts had forecast.
GLUU stock had climbed more than 85% over the past twelve months. GLUU stock closed at $3.87 per share on Wednesday.