Glu Mobile (GLUU) Stock Down in After-Hours Trading Today On Weak Guidance
NEW YORK (TheStreet) -- Shares of Glu Mobile (GLUU) - Get Glu Mobile Inc. Report were falling 10.8% to $4.04 after-hours Wednesday after the mobile game publisher missed analysts' estimates for revenue in the third quarter and guided below estimates for the fourth quarter.
Glu Mobile reported earnings of 17 cents a share for the third quarter, beating the 11 cents a share analysts surveyed by Thomson Reuters expected for the quarter. Revenue grew 270% year over year to $83.6 million for the quarter, below analysts' estimates of $85.2 million.
The mobile game publisher said it expects earnings of 1 cent to 3 cents a share and revenue of $60 million to $65 million for the fourth quarter, below the earnings of 4 cents a share and revenue of $65.6 million that analysts expect.
TheStreet Ratings team rates GLU MOBILE INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
TheStreet Recommends
"We rate GLU MOBILE INC (GLUU) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been unimpressive growth in net income over time."
You can view the full analysis from the report here: GLUU Ratings Report
GLUU data by YCharts
