Why Glu Mobile Stock Dropped 16% in August
Shares of Glu Mobile (NASDAQ: GLUU) slid 15.9% last month, according to data provided by S&P Global Market Intelligence. The mobile game maker reported second-quarter earnings results on Aug. 4 that missed analysts' revenue and earnings estimates, sending the shares tumbling for the month.
Market participants were expecting the company to report revenue of $165.3 million, along with a profit of $0.08 per share. Glu fell shy of those estimates, with revenue coming in at $133.3 million, with a loss of $0.05 per share.
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Source Fool.com
