Glu Mobile (NASDAQ:GLU) earnings for the mobile game company’s third quarter of 2019 have GLU stock falling hard on Wednesday. This is due to the company’s diluted per-share losses of -3 cents. That’s below Wall Street’s EPS estimate of 3 cents for the quarter. Revenue of $107.10 million also misses analysts’ estimates of $110.86 million.
Let’s take a closer look at the most recent Glu Mobile earnings report.
- The company’s diluted losses per share are a switch from earnings per share during the same time last year.
- Revenue is up 7.86% YoY from $99.30 million.
- Operating losses of -$5.71 million are 2340.17% worse than -$234 million in the same period of the year prior.
- Net loss in the Q3 Glu Mobile earnings report comes in at -$5.09 million.
- That’s a 1888.28% wider net loss than the -$256,000 reported in the third quarter of 2018.
Nick Earl, CEO of Glu Mobile, says the following about the GLU stock earnings report.
“We were extremely encouraged by our ability to drive early results from Diner DASH Adventures in its first full quarter and to make progress on our development pipeline, particularly with Disney Sorcerer’s Arena, which is on track to launch in Q1 2020. These accomplishments reflect the successful execution of our strategy and reinforce our belief that we are well positioned for continued top line growth heading into next year.”
GLU stock was down 14.39% in after-hours trading Wednesday. It also closed out the day down 4.63%.
As of this writing, William White did not hold a position in any of the aforementioned securities.
