Why Glu Mobile Shares Are Soaring 22% Higher Today

Shares of mobile games publisher Glu Mobile (NASDAQ: GLUU) are skyrocketing today, having risen 22% as of 12:30 p.m. EST. The company posted fourth-quarter earnings after the closing bell on Wednesday, and investors are focusing on the upside of that mixed report.

Glu's fourth-quarter sales rose 18% year over year to $113 million. Earnings swung from a $0.01 loss per share to a net profit of $0.07 per share. Your average analyst had been looking for earnings near $0.08 per share on revenues in the neighborhood of $104 million.

Image source: Getty Images.

Continue reading

Source Fool.com