Mark Holder
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Mark Holder in Out Fox The $treet,

Glu Mobile: Blah Quarter

Glu Mobile (GLUU) didn't have high expectations for Q2 earnings and the mobile-game developer definitely delivered. The following numbers are per briefing.com:

  • Reports Q2 (Jun) loss of $0.03 per share, $0.02 better than the Capital IQ Consensus of ($0.05); revenues fell 13.9% year/year to $48.36 mln vs the $47.16 mln Capital IQ Consensus. Total Bookings were $50.9 million in the second quarter of 2016, compared to $57.5 million in the second quarter of 2015.
  • Co issues in-line guidance for Q3, sees EPS of ($0.04-0.03) vs. ($0.03) Capital IQ Consensus Estimate, sees bookings of $50-52 mln
  • Co lowersguidance for FY16, sees EPS of ($0.17-0.15) (Prior ($0.16-0.11) vs. ($0.14) Capital IQ Consensus Estimate, sees booking of $195-202 mln

The numbers were mostly inline with expectations so any drop in after-hours trading is based on traders hoping for some surprise deal. Long-term investors though clearly aren't pleased. 

With a market cap of only $250 million and cash around $160 million, now isn't the time to dump the stock. 

Disclosure: Long GLUU