Dallas, Texas 02/12/2014 (FINANCIALSTRENDS) – Last week, Glu Mobile Inc (NASDAQ:GLUU) soared almost 28% after the company reported better-than-expected Q4 results as well as its forward guidance. The quarterly adjusted revenue climbed 62% y-o-y to $42.8M, which translated to an adjusted net income of $0.07/ share, in comparison to a $0.05/ share loss in the same quarter in the previous year. In the meantime, analysts had only been expecting a breakeven quarter on the sales of $32.2M. In the future, Glu Mobile Inc (NASDAQ:GLUU) expects adjusted 2014 revenue to be in the $142M-$150M range and the adjusted net-income to be in the $0.00-$0.02/ share range.
Analysts had projected a $0.05/share loss on sales of $121.4M. Niccolo de Masi the Chief Executive officer of Glu Mobile Inc (NASDAQ:GLUU) said that they believe that they have embarked upon a new era at the company, one that has solid foundations and which will provide more sustainable and predictable adjusted EBITDA profitable, operational-rhythm. Analysts are saying that the latest optimism might trend forward and boost Glu Mobile Inc (NASDAQ:GLUU) towards further growth. However, they are also pointing out to the fact, that my normal accounting standards, Glu Mobile Inc (NASDAQ:GLUU) is still losing money.
What analysts want to see is how Glu Mobile Inc (NASDAQ:GLUU) will be eventually achieve sustained profitability, on a GAAP basis, in the long-term. Glu Mobile Inc (NASDAQ:GLUU) designs & markets as well as sells mobile games. It has developed & published a vast portfolio of adventure/action and different casual games that are designed to especially appeal to a cross-section of smartphones and tablet users who buy the company’s games via dtc digital storefronts, and users of feature-phones who are served by the wireless carriers and numerous other distributors. It also creates games that are based on the company’s original brands, and 3rdparty licensed brands.