Thursday, May 22, 2014
Glu Mobile Inc. Is Real
The recent results of Glu Mobile (NASDAQ: GLUU ) suggest the mobile game developer is finally hitting full stride. The company solidly smashed previous guidance for a second straight quarter and now looks more likely to reach its high goals for the rest of the year and into 2015. Possibly more important, the company has turned a profit in the last couple of quarters, proving that the concept can deliver.
The mobile game sector has been under pressure due to the weak IPO from King Digital Entertainment (NYSE: KING ) . While King Digital and Zynga (NASDAQ: ZNGA ) before it were plagued by one-hit wonders that the companies couldn't repeat, Glu Mobile is starting to generate solid repeatable results based on small hit franchises.
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