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Glu Mobile hits record $99.4m bookings as Design Home continues strong showing

Tap Sports Baseball 18 and Covet Fashion also perform well
Glu Mobile hits record $99.4m bookings as Design Home continues strong showing
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Glu Mobile is getting closer to profitability after reporting record bookings of $99.4 million for the three months ending June 30th 2018.

Bookings for Q2 were up 20 per cent year-on-year and 15 per cent quarter-on-quarter.

As a result of strong bookings, full year guidance has been raised by $11 million (at the midpoint) to $374m to $378m.

Average bookings per daily active user are also at a record of of $0.30 - up 50 per cent year-on-year.

Losses decrease

Revenue meanwhile increased from $68.7m in Q2 2017 to $90.2m in the last quarter.

The publisher reported a net loss of $4.4 million, but this was much improved from the $23.6 million loss it made during the same period the year prior.

As well as strong performance of Design Home, which grew its bookings 70 per cent year-on-year and 11 per cent quarter-on-quarter, other titles were also credited with pushing growth.

The Tap Sports Baseball franchise was said to have had its strongest quarter ever, with TSB 18 bringing in record bookings of $23.4 million.

Bookings for Covet Fashion meanwhile also grew to $13m despite what Glu said was a “seasonally slow quarter behind a new creative leader”.

Future titles in the pipeline include Titan World, Dash Town and WWE: Universe - though the latter was delayed. Glu also has a new untitled Disney Pixar game on the works.

“Our focus remains on monetising our existing titles, while continuing to develop our pipeline of new games that we believe will position us for strong bookings, adjusted EBITDA margin, and free cash flow growth as we head into next year,” said Glu Mobile CEO Nick Earl.

“Given our record first half results, we have raised our full year outlook based on the second quarter guidance outperformance and our increased expectations for the remainder of the year.”