NEW YORK (TheStreet) -- Shares of Glu Mobile (GLUU) - Get Report were tumbling 9.61% to $2.07 in after-hours trading on Tuesday after the company posted better-than-expected results for the 2016 second quarter, but lowered its guidance for the full year.
After today's market close, the San Francisco-based mobile game company said it now forecasts a full-year loss per share between 15 cents and 17 cents. Previously, Glu Mobile expected a loss between 11 cents and 16 cents per share, the Fly noted.
Analysts are modeling a loss of 14 cents per share for 2016.
In the third quarter, Glu Mobile sees a loss per share between 3 cents and 4 cents. Analysts are looking for a loss of 3 cents per share.
For the second quarter, the company posted an adjusted loss of 3 cents per share, smaller than the loss of 5 cents per share that analysts had projected. Revenue for the quarter was $48.4 million, higher than analysts' forecasts of $47.3 million.
"Our ability to exceed expectations in the quarter was driven by the strong 'Tap Sports Baseball 2016' launch as well as the ongoing success of 'Cooking Dash 2016, Kim Kardashian: Hollywood and Racing Rivals,'" CEO Niccolo de Masi said in a statement.
About 7.72 million of the company's shares were traded today, above its average volume of 2.11 million shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: GLUU