NEW YORK (TheStreet) -- Shares of Glu Mobile (GLUU) - Get Report plummeted 16.34% to $3.79 in morning trading Thursday after the mobile games company posted third-quarter revenue and issued fourth-quarter guidance that came up short of analysts' expectations.
The San Francisco-based Glu Mobile reported adjusted revenue of $83.6 million, which was short of the consensus estimate of $85.2 million from analysts polled by Thomson Reuters. Adjusted earnings totaled 17 cents a share, which surpassed analysts' estimate of 11 cents a share.
The maker of the "Kim Kardashian: Hollywood" game said it anticipates earnings of a penny to 3 cents a share on revenue in the range of $60 million to $65 million for the fourth quarter. Analysts are expecting earnings of 4 cents a share on revenue of $65.6 million.
Separately, 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:
"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