Further to Glu's [Nasdaq:GLUU] announcement of its Q2 2009 financials, outgoing CEO Greg Ballard, and other executives, have made an earnings call for analysts.

In this, Ballard highlighted some of the company's best performing products during the three months ending June 30.

For mobile, these included The Family Guy, Transformers: Revenge of the Fallen - number one title on China Mobile - and Ice Age 3.

Performance on US carriers was particularly strong, with Glu setting a company record with eight of the top 25 sellers on Verizon.

"It was the first time in several years that Tetris and the Jewel have been displaced from their positions as the number one and number two on that carrier," said Ballard.

In terms of future sales, Ballard said he expected a slower Q3 due to the "traditional slow summer month" in Europe, plus infrastructure maintenance on some carriers in North America.

Q4 would be strong thanks, in part, to licences from Activision, including Tony Hawk, Call of Duty, new racing title Blur, and Guitar Hero 5.

Significant investment, little reward

As for the impact of the iPhone App Store on revenue, Ballard said the company had invested significant amount of time and resource in terms of understanding how to make good content, but the challenge remained economic.

"Revenue from this platform remains smaller than we would like given the incremental investment required. This is a function of below average price that had now emerged and the fact that most hits have a tendency to stay quickly after they are sent up the charts.

"So, while our titles can become a hit for a short time, relatively few titles have been able to stay on the Top 40 for very long and while there, do not generate much money at $0.99 or even a $1.99," he said.

This echoes what Ballard told PocketGamer.biz in a recent interview.

"It [App Store] hasn't been the home run for big publishers as was expected," he pointed out.

So it looks like the rumours about a premium priced section in the App Store, which have recently resurfaced, will be hotting up over the coming weeks.

You can read the full analysts transcript here.