GLUU: Investors Are Giddy for Glu Mobile After Earnings

It topped estimates for the December quarter

   

wrapup-trading-floorGlu 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.

Shares of UBS Stock Jump on Higher Earnings
Shares of UBS Stock Jump on Higher Earnings

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.


Article printed from InvestorPlace Media, http://investorplace.com/2014/02/gluu-investors-giddy-glu-mobile-earnings/.

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