Glu Mobile posts $81 million revenue for the quarter as net losses fall

Glu Mobile posts $81 million revenue for the quarter as net losses fall
Sean Cleaver

By Sean Cleaver

November 2nd 2017 at 2:51PM

The mobile publisher has been boosted by the success of Design Home

Mobile publisher Glu Mobile has continued to grow this year and its showing in its financial results.

The company's earnings call yesterday showed that key titles like Design Home and MLB Tap Sports Baseball '17 increased revenue from bookings up to $85.7 million in total and $81.1 million in actual revenue, which is higher than expected. There were also no new product launches during the last quarter and the company is still up 67 per cent year-on-year.

"I'm delighted to say that our year-to-date performance has progressed better than we expected and 2017 is shaping up to be a record year," said CEO of Glu, Nick Earl. "Our strong third quarter represents a record bookings quarter and underscores the progress we've made in creating a culture of creativity, operational excellence and financial discipline in this transformative year."

Glu mobile developed and published the incredibly successful Kim Kardashian: Hollywood game featuring the celebrity endorsement of the titular star and Design Home published by CrowdStar, a part of Glu Mobile. Design Home peaked this year at over 1 million daily active users. Glu has also been creating tie-in baseball games with Major League Baseball (MLB).

Previous celebrity tie-in games were not performing, which has led to a restructure at the company over the past year. In January over 100 jobs were affected by the closure of its 1-2 studios, and even more a few months later in Portland according to reports.

The news of the turnaround is certainly good for the company, although there's no news on how effective the restructuring was in regards to results.