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Why Glu Mobile Stock Skyrocketed Today

Nov 06, 2020 - Nasdaq
Financial Results

What happened

Shares of Glu Mobile (NASDAQ: GLUU) have skyrocketed today, up by 24% as of noon EST, after the company reported third-quarter earnings yesterday afternoon. The results topped analyst expectations, and the company boosted its full-year bookings guidance.

So what

Revenue in the third quarter hit a record $158.5 million, well above the consensus estimate of $136.3 million. That resulted in adjusted earnings per share of $0.11, compared with the $0.07 per share in ...