Why Glu Mobile Stock Skyrocketed Today

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.

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.

Continue reading

Source Fool.com