Why Glu Mobile Inc. Stock Skyrocketed 33.3% in August
Shares of Glu Mobile Inc. (NASDAQ: GLUU) jumped 33.3% in August, according to data from S&P Global Market Intelligence, after the free-to-play mobile-games specialist announced mixed second-quarter 2017 results but increased its full-year guidance.
More specifically, Glu Mobile's revenue last quarter climbed 42% year over year to $68.7 million -- which was slightly below Wall Street's expectations -- driven primarily by the company's acquisition of Design Home parent Crowdstar late last year. On the bottom line, that translated to a net loss of $23.6 million, or $0.17 per share.
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Source: Fool.com
