What happened Shares of Glu Mobile (NASDAQ: GLUU) have skyrocketed today, up by 24% as of noon EST, after the company reported third-quarter earnings yesterday afternoon. The results topped analyst expectations, and the company boosted its full-year bookings guidance. So what Revenue in the third quarter hit a record $158.5 million, well above the consensus estimate of $136.3 million. That resulted in adjusted earnings per share of $0.11, compared with the $0.07 per share in adjusted profits that Wall Street was looking for. The mobile video game company reported bookings of $147.3 million in the third quarter. Daily active users (DAUs) were 2.9 million. Image source: Getty Images. "We followed up a very strong second quarter with a better-than-expected third quarter that saw year-over-year bookings growth of 22% led by the continued strong performance of our Growth Games," CEO Nick Earl said in a statement. "Our focus on margin expansion led to significantly higher profitability driven by greater productivity from our marketing spend." Now what Guidance for the fourth quarter calls for bookings of $119.5 million to $124.5 million. That should bring full-year bookings to a range of $555.3 million to $560.3 million, up from a prior forecast of $538 million to $548 million in bookings for 2020. The company also provided some outlook for 2021, detailing three phases of game launches. Bookings in 2021 are forecast at $595 million to $605 million, but there may be upside to that guidance since it does not include the planned launch of four new original games. Margins are also expected to expand in 2021 by 220 to 420 basis points. 10 stocks we like better than Glu MobileWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Glu Mobile wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source