Glu's Design Home and Covet Fashion lead revenue growth for "historic" 2017

Glu's Design Home and Covet Fashion lead revenue growth for "historic" 2017

Glu Mobile has released its financials for the full year of its FY17 ending December 31st 2017.

The company posted revenues of $286.6 million for the year, up 43% year-on-year. However, net loss also increased to $97.6 million for the year, an increase from $87.4 million in 2016.

Revenue in its Q4 FY17 grew to $80.2 million, up 73.2% year-on-year. This was largely down to three games generating 63% of the quarter's bookings: Design Home, Covet Fashion and Tap Sports Baseball 2017.

Glu will now look to invest in these games to continue their growth, as well as create similar "growth" games with top ten grossing potential. It will also keep its evergreen games generating revenue through continued live ops across the board.

"A historic year"

"Our fourth quarter performance and financial results capped off a historic year for Glu. We successfully executed on our three-pillar growth strategy built around creative IP, operating excellence, and financial discipline," said Glu CEO Nick Earl.

"While much work remains, we made significant progress in transforming the company to a creative, product driven mobile game developer that generates more consistent and improved operating and financial results."

Looking ahead, Glu is expecting to launch a new edition of its Tap Sports Baseball franchise in the first half of 2018. It will also launch a game made in partnership with the WWE in the same period.

The second half of 2018 should see three new games launched, namely Titan World, Dash Town, and a social casino game. Glu has also partnered with Disney on an upcoming release, but no release date has been offered yet.

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A footy game fanatic and experienced editor of numerous computing and game titles, lively Chris is up for anything - including running Steel Media! (Madman!)


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