Glu starts 2017 strong with $57 million in revenues thanks to Design Home and Tap Sports Baseball

Glu starts 2017 strong with $57 million in revenues thanks to Design Home and Tap Sports Baseball

Glu Mobile has posted its financials for its Q1 FY17 for the three months ending March 31st 2016.

The developer saw revenues of $56.8 million, up 4% year-on-year and 23% quarter-on-quarter. Bookings also increased to $69 million, up 28% year-on-year and exceeding its guidance mid-point by 28%.

It is still operating at a loss, however. Net loss for the quarter grew to $22.8 million, up by around $14 million year-on-year and $5 million quarter-on-quarter.

Its increased revenues are said to be driven by titles like Design Home, which Glu added to its portfolio as part of its purchase of a controlling interest in developer Crowdstar.

Strong and stable

"Our better than expected bookings performance in the first quarter was driven by the continued strength of Design Home and the impact from optimisation efforts made in our growth and evergreen titles," said Glu CEO Nick Earl.

"This strong first quarter financial performance gives us the confidence to significantly raise our bookings outlook for the year.

"We are focused on becoming a more stable and profitable growth company over time while continuing to make smart investments in titles that we believe have the potential to become blockbuster hits."

Glu also pointed to its recent partnership with MLB on its latest Tap Sports Baseball entry, which was the top free game in the US App Store for six days.

It's even managed to capture our attention and turn some of us into real-world baseball fans.

Deputy Editor

Ric has written for for as long as he can remember, and is now Deputy Editor. He likes trains.


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