$GLUU is breaking out of its wedge and we see this as bullish. After disappointing Q3 earnings, the stock has held up well and we believe higher prices are in order.
Here are the highlights of the November 6 report:
Glu Mobile (NASDAQ:GLUU) has tumbled 14% after hours following Q3 results where revenues and losses came in worse than expected.
Bookings hit a Q3 record $10.4M, above guidance for $110M-$112M. The company pointed to double-digit gains for each of its three Growth Games.
Revenues grew 7.9% to $107.1M; gross margin rose to 64.7% from 61.2%.
Net loss swelled to $5.1M from $0.3M, however.
For Q4, it's guiding to bookings of $101.5M-$103.5M; for 2019, it's guiding to bookings of $416.4M-$418.4M.
Looking ahead to 2020, it's expecting high-single-digit percentage gains for its three growth games; a full year of contribution from Diner DASH Adventures; and for those two factors to more than offset declines in library titles. Overall, it sees low single digits of growth excluding new titles.
For 2020 EBITDA, it expects it to be in line with 2019 guidance levels.
As always, use protective stops and trade with caution.
Good luck to all!
Here are the highlights of the November 6 report:
Glu Mobile (NASDAQ:GLUU) has tumbled 14% after hours following Q3 results where revenues and losses came in worse than expected.
Bookings hit a Q3 record $10.4M, above guidance for $110M-$112M. The company pointed to double-digit gains for each of its three Growth Games.
Revenues grew 7.9% to $107.1M; gross margin rose to 64.7% from 61.2%.
Net loss swelled to $5.1M from $0.3M, however.
For Q4, it's guiding to bookings of $101.5M-$103.5M; for 2019, it's guiding to bookings of $416.4M-$418.4M.
Looking ahead to 2020, it's expecting high-single-digit percentage gains for its three growth games; a full year of contribution from Diner DASH Adventures; and for those two factors to more than offset declines in library titles. Overall, it sees low single digits of growth excluding new titles.
For 2020 EBITDA, it expects it to be in line with 2019 guidance levels.
As always, use protective stops and trade with caution.
Good luck to all!
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
