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Glu Mobile shares fall 4% following downside guidance
Glu Mobile (GLUU $2.89 -0.12) reported first quarter loss of $0.03 per share, excluding non-recurring items, vs. ($0.08)-(0.06) guidance and $0.04 better than the Capital IQ Consensus Estimate of ($0.07); revenues fell 12.0% year/year to $19 million vs $17-18.5 million guidance the $18.03 million consensus. The company issued downside guidance for Q2, sees EPS of ($0.07)-(0.06), excluding non-recurring items, vs. ($0.04) Capital IQ Consensus Estimate; sees Q2 revs of $16.5-17.5 million, excluding non-recurring items, vs. $20.26 million Capital IQ Consensus Estimate. The company issued downside guidance for FY13, sees EPS of ($0.14)-(0.12), excluding non-recurring items, vs. ($0.11) Capital IQ Consensus Estimate; sees FY13 revs of $84.0-88.5 million, excluding non-recurring items, vs. $88.84 million Capital IQ Consensus Estimate. The company announced that the company has expanded its real-money mobile gambling portfolio to include a new Contract Killer mobile slots game and has begun development on Glu-IP-branded mobile casino suites. All products will be created in conjunction with Probability, a leading technology provider to the mobile entertainment gambling industry in the UK. Contract Killer Slots is immediately available to Probability customers in the UK and Glu-IP-branded mobile casino suites are expected to be available by Q3 2013.
Glu Mobile (GLUU $2.89 -0.12) reported first quarter loss of $0.03 per share, excluding non-recurring items, vs. ($0.08)-(0.06) guidance and $0.04