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Glu Mobile cuts losses as it hits record $86 million in bookings

Glu Mobile cuts losses as it hits record $86 million in bookings

Glu Mobile’s bookings grew 25.1 per cent year-on-year to a record $86.3 million for the three months ending March 31st 2018.

The strong performance led to the US publisher increasing its full year bookings guidance by $35 million to a range of $360m to $370m.

Revenue increased from $56.8 million to $81.4 million year-on-year in Q1.

Despite the strong revenue performance Glu still reported a loss of $7.2 million. However, that was substantially smaller than the $22.8 million loss the company reported during the same period in 2017.

Key performers

The US publisher put much of its performance down to the strong showing of Design Home and growth for its other key titles Covet Fashion and Kim Kardashian: Hollywood.

Across its portfolio Glu said its average bookings per daily active user had grown 42 per cent year-on-year to $0.27.

Also of note is the rise of its MLB Tap Sports Baseball franchise, which has grown every year with each new version to bring in $49.7 million from the 2017 release.

Glu aims to expand its portfolio in 2017 with the launches of Racing Rivals 7, WWE: Universe, Titan World and Dash Town.

“These better than expected results demonstrate the quality of our current growth and evergreen titles and the successful execution of initiatives we’ve implemented to improve game performance as part of our live ops strategy,” said Glu CEO Nick Earl.

“We also made steady progress in further developing our product roadmap and are well positioned to execute on our overall growth strategy.”

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Senior Editor

Craig Chapple is Senior Editor of PocketGamer.biz and InfluencerUpdate.biz. He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.

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