Glu Returns to Profits in Latest Quarter, Signs Deal With Nicki Minaj & Jason Statham

5th August, 0 replies

Mobile game developer Blu has released its earnings report for the second fiscal quarter, which ended on June 30, 2015.

Non-GAAP revenue increased 62 percent year-over-year to $57.5 million. Non-GAAP net income increased to $1.8 million, after a loss of $1.6 million.

"Glu's strong execution during the second quarter resulted in better-than-expected revenue and Adjusted EBITDA," said CEO Niccolo de Masi. "During the quarter, our results were underpinned by the continued strength of Kim Kardashian: Hollywood, Racing Rivals, Deer Hunter 2014, and Contract Killer: Sniper. We were also pleased with the robust performance of Tap Sports Baseball 2015 and Cooking Dash 2016 out of the gates."

Glu also announced that it has signed a deal with Nicki Minaj and Jason Statham.

"We are pleased with our second quarter results, highlighted by our ability to exceed expectations across all key operating metrics," said COO and CFO Eric R. Ludwig. "The combination of our exciting pipeline of title launches and significantly strengthened balance sheet, positions the company to maintain its momentum longer-term."

Glu expects to hit record second half revenue, as well as double digit year-on-year growth over the next five years.

Source:

goo.gl/…

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