Glu slips back into loss as FY15 Q2 sales slide 19% to $56 million

Cash in hand higher thanks to Tencent

Glu slips back into loss as FY15 Q2 sales slide 19% to $56 million

Glu Mobile (NASDAQ: GLUU) has announced its FY15 Q2 financials, for the three months ending 30 June 2015.

A year after the company's most successful game - Kim Kardashian: Hollywood - launched, revenue was $56.2 million, down 19 percent quarter-on-quarter.

Compared to net income of $1.1 million three months ago, the company made a net loss of $5.5 million.

Glu ended the quarter with cash and equivalents worth $190 million, mainly thanks to the c.$126 million received from an investment by Tencent.

In addition to announcing its financials, Glu also announced exclusive multi-year deals with rapper Nicki Minaj and action star Jason Statham; the company's first deal with a male celebrity.

Games galore

"During the quarter, our results were underpinned by the continued strength of Kim Kardashian: Hollywood, Racing Rivals, Deer Hunter 2014 and Contract Killer: Sniper," commented CEO Niccolo de Masi.

Glu's sales are now declining as Kim Kardashian: Hollywood matures

"We were also pleased with the robust performance of Tap Sports Baseball 2015 and Cooking Dash 2016 out of the gates."

[source: Glu Mobile]

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