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Glu Mobile Beats on Both Top and Bottom Lines

Thursday - 5/2/2013, 2:00am  ET

Glu Mobile reported earnings on May 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Glu Mobile beat expectations on revenues and exceeded expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped. GAAP loss per share dropped.

Gross margins grew, operating margins contracted, net margins grew.

Revenue details
Glu Mobile logged revenue of $19.0 million. The nine analysts polled by S&P Capital IQ predicted a top line of $18.0 million on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $21.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.08. The six earnings estimates compiled by S&P Capital IQ averaged -$0.13 per share. GAAP EPS were -$0.08 for Q1 compared to -$0.11 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 89.6%, 150 basis points better than the prior-year quarter. Operating margin was -26.0%, 100 basis points worse than the prior-year quarter. Net margin was -28.7%, 310 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $20.3 million. On the bottom line, the average EPS estimate is -$0.09.

Next year's average estimate for revenue is $88.8 million. The average EPS estimate is -$0.31.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 201 members out of 232 rating the stock outperform, and 31 members rating it underperform. Among 31 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 22 give Glu Mobile a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Glu Mobile is outperform, with an average price target of $3.19.

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This article was originally published as Glu Mobile Beats on Both Top and Bottom Lineson Fool.com

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