Glu Returns to Profits in Latest Quarter, Signs Deal With Nicki Minaj & Jason Statham - News
by William D'Angelo , posted on 05 August 2015 / 3,922 Views
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.
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A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.
