Why Glu Mobile Stock Skyrocketed Today
Shares of Glu Mobile (NASDAQ: GLUU) have skyrocketed today, up by 24% as of noon EST, after the company reported third-quarter earnings yesterday afternoon. The results topped analyst expectations, and the company boosted its full-year bookings guidance.
Revenue in the third quarter hit a record $158.5 million, well above the consensus estimate of $136.3 million. That resulted in adjusted earnings per share of $0.11, compared with the $0.07 per share in adjusted profits that Wall Street was looking for. The mobile video game company reported bookings of $147.3 million in the third quarter. Daily active users (DAUs) were 2.9 million.
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Source Fool.com
