SAN FRANCISCO (AP) _ Glu Mobile Inc. (GLUU) on Wednesday reported fourth-quarter net income of $10.8 million, after reporting a loss in the same period a year earlier.
The San Francisco-based company said it had profit of 7 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 11 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The mobile game maker posted revenue of $112.9 million in the period. Its adjusted revenue was $108.4 million, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $104.2 million.
For the year, the company reported net income of $8.9 million, or 6 cents per share, swinging to a profit in the period. Revenue was reported as $423.3 million.
Glu Mobile shares have increased roughly 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.45, a decrease of 27% in the last 12 months.