Glu Mobile: 1Q Earnings Snapshot

SAN FRANCISCO (AP) _ Glu Mobile Inc. (GLUU) on Monday reported first-quarter net income of $663,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Francisco-based company said it had profit of less than 1 cent. Earnings, adjusted for stock option expense and non-recurring costs, came to 5 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 5 cents per share.

The mobile game maker posted revenue of $95.9 million in the period. Its adjusted revenue was $92.6 million, surpassing Street forecasts. Four analysts surveyed by Zacks expected $90.2 million.

For the current quarter ending in July, Glu Mobile said it expects revenue in the range of $100 million to $102 million.

The company expects full-year revenue in the range of $445 million to $455 million.

Glu Mobile shares have increased 39% since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.22, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLUU at https://www.zacks.com/ap/GLUU