Why Glu Mobile Stock Got Completely Demolished Today
Shares of Glu Mobile (NASDAQ: GLUU) have gotten completely demolished today, down by 41% as of 12:30 p.m. EDT, after the company reported second-quarter earnings results. Glu also drastically cut its full-year bookings guidance.
Revenue in the second quarter came in at $95.5 million, with bookings of $101.9 million. Q2 bookings were at the high end of guidance, which had called for bookings of $100 million to $102 million. Gross margin was 64.6%, and Glu posted net income of $2.5 million, or $0.02 per share. The company launched WWE Universe and Diner DASH Adventures worldwide during the quarter.
Image source: Getty Images.
Quelle Fool.com
