Glu Mobile Earnings: GLUU Stock Plummeted as Q1 Sales Gain 18%

Glu Mobile (NASDAQ:GLUU) reported its latest quarterly earnings results after hours today, bringing in bookings that handily topped what analysts called for, while also bringing in revenue that topped what analysts called for, yet GLUU stock fell more than 5% after hours Monday.

Glu Mobile EarningsThe San Francisco, Calif.-based mobile video game maker said that it brought in first-quarter earnings for its fiscal 2019 that came in at the breakeven spot, topping the loss of 5 cents per share it brought in during the same period in its fiscal 2018. However, the figure was below the Wall Street consensus estimate of a profit of 5 cents per share.

Glu Mobile added that its revenue for the period increased roughly 18% year-over-year, coming in at $95.9 million, Analysts were calling for revenue of $89.75 million in the Wall Street consensus estimate. The company’s bookings increased 7% year-over-year to $92.6 million, ahead of the company’s own outlook that was in the range of $88 million to $90 million.

For its second quarter of the fiscal year, the business predicts that its bookings will be somewhere in the range of $100 million to $102 million. Glu Mobile also bumped up its full-year bookings forecast to now be in the range of $445 million to $455 million, which is $10 million higher than its previous outlook of $435 million to $445 million.

GLUU stock is down about 5.1% after hours Monday. Shares had been gaining about 3.9% during regular trading hours before the company reported.

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