Glu Mobile Inc. (NASDAQ:GLUU) is scheduled to report its Q2 2012 results on August 2, 2012, after the bell. The Street expects EPS and revenue of ($0.04) loss and $21.53M, respectively.
In this article, I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from GLUU and the news from its closest competitors.
Recent EPS Actuals vs. Estimates
The company has met or beaten analysts' estimates in the last four quarters. In the last quarter, it reported ($0.01) loss per share, beating analyst estimates of ($0.08) loss.
The consensus EPS estimate is ($0.04) loss based on 7 analysts' estimates, down from ($0.01) loss a year ago. Revenue estimates are $21.53M, up from $17.91M a year ago. The median target price by analysts for the stock is $7.00.
Average recommendation: Buy
- On July 26, 2012, Glu Mobile Inc. announced the preliminary second quarter 2012, guidance and expects total non-GAAP revenue of approximately $24.2 million, up 35% year over year.
- On July 19, 2012, Glu Mobile Inc., a leading global developer and publisher of freemium games for smartphone and tablet devices, announced the availability of its new freemium game, Mutant Roadkill.
- On July 18, 2012, Glu Mobile Inc., a leading global developer and publisher of freemium games for smartphone and tablet devices, announced the availability of two of its top freemium games, Gun Bros and Contract Killer, for Xbox LIVE® for Windows Phone.
- On July 5, 2012, Glu Mobile Inc., a leading global developer and publisher of freemium games for smartphone and tablet devices, announced the availability of Frontline Commando on the Mac App Store. The popular 3rd person military shooter is available as a free download from the Mac App Store and features in-app purchasing, full screen mode, and a fully optimized user interface available in OS X Lion.
- On June 27, 2012, Glu Mobile Inc., a leading global developer and publisher of freemium games for smartphone and tablet devices, announced the immediate availability of its top Android titles for the new Nexus 7, including Deer Hunter Reloaded, Frontline Commando, Samurai vs. Zombies Defense, and Lil' Kingdom. Powered by Google Android 4.1, Jelly Bean, the Nexus 7 offers Android fans an impressive mobile gaming experience.
- On June 19, 2012, Glu Mobile Inc. announced that it expects to hit long-term targets in about a 50% revenue growth from the present, at $31 million to $35 million of quarterly revenue.
- On May 2, 2012, Glu Mobile Inc. announced that for second quarter of 2012, it expects non-GAAP revenue to be between $20.5-$21.5, adjusted EBITDA loss to range from a loss of $(2.0)-$(2.9) million and non-GAAP net loss to be between $(2.7)-$(3.6) million, or a net loss of $(0.04)-$(0.06) per weighted-average basic share (EPS).
- On February 7, 2012, Glu Mobile Inc. announced that for first of 2012, it expects non-GAAP revenue to be between $17.5 million and $18.5 million, adjusted EBITDA loss is expected to range from a loss of $(3.9) million to a loss of $(4.7) million and non-GAAP net loss is expected to be between $(5.0) million and $(5.8) million, or a net loss of $(0.08) to $(0.09) per weighted-average basic share .
Activision Blizzard (NASDAQ:ATVI), Electronic Arts (NASDAQ:EA), and Zynga (NASDAQ:ZNGA) are major competitors for Glu Mobile and the table below provides the key metrics for these companies and the industry.
The chart below compares the stock price changes as a percentage for the selected companies and S&P 500 index for the last one-year period.
Competitors' Latest Development
- On July 3, 2012, Funcom N.V. announced that the 'The Secret World' online game was officially launched worldwide On July 3, 2012. 'The Secret World' is developed by the Company and co-published by EA Partners, a division of Electronic Arts Inc.
- On June 26, 2012, Majesco Entertainment Co announced that it has entered into a publishing agreement with Zynga Inc. Under the agreement, Zynga will publish Mini Putt Park, Majesco's latest social game.
- On June 20, 2012, Nokia Oyj announced new partnership with Zynga Inc to bring Zynga's games to Nokia Lumia smartphones and Windows Phones during autumn 2012, including Word with Friends and Draw Something.
- On June 13, 2012, Activision Publishing, a wholly owned subsidiary of Activision Blizzard, Inc. announced that the Company has formed a strategic relationship with Flurry Inc., to establish a new mobile publishing initiative that will identify and assist third-party developers in the development, publishing, distribution and promotion of independent titles on iOS and Android platforms.
- On June 1, 2012, Activision Blizzard announced that all parties to the litigation have reached a settlement of the dispute, the terms of which are strictly confidential.
- On May 22, 2012, Reuters reported that Zynga Inc has reached a partnership agreement with American Express to issue a prepaid debit card that could be used to redeem virtual credits.
- On May 16, 2012, Reuters reported that Activision Blizzard Inc and Electronic Arts Inc have settled a lawsuit in which Activision accused two former executives of breaking their employment agreements to develop games for EA. Neither company disclosed details of the settlement.
- On May 9, 2012, Activision Blizzard announced that for fiscal 2012, it expects GAAP net revenues of $4.200 billion, non-GAAP net revenues of $4.530 billion, GAAP earnings per diluted share of $0.65 and non-GAAP EPS of $0.95. For second quarter of 2012, it expects GAAP net revenues of $950 million, non-GAAP net revenues of $805 million, GAAP earnings per diluted share of $0.13 and non-GAAP EPS of $0.10. According to I/B/E/S Estimates, analysts are expecting the company to report revenue of $4.565 million and EPS of $0.97 for fiscal 2012; revenue of $822 million and EPS of $0.16 for second quarter of 2012.
- On May 8, 2012, Dow Jones reported that Nokia Oyj announced a range of new partnerships aimed at delivering applications to its Lumia smart phones, including a cooperation deal with Rovio, the developer of the Angry Birds game series, as well as Groupon, Inc., PayPal and Electronic Arts, Inc. The deals are part of moves to establish third-party app-developer support for Microsoft Corp.'s Windows Phone platform, which it adopted last year in a strategy to replace its outdated Symbian operating system.
- On May 8, 2012, Reuters reported that Zynga Inc, the publisher of games on Facebook like "FarmVille" and "CityVille," accused French game publisher Kobojo of trademark infringement, according to court documents.
- On May 7, 2012, Electronic Arts, Inc. announced that for fiscal 2013, it expects GAAP net revenue to be approximately $4.075 billion, Non-GAAP net revenue to be approximately $4.300 billion, GAAP loss per share to be approximately ($0.36)-($0.16). Non-GAAP diluted earnings per share to be approximately $1.05-$1.20. For first quarter of 2013, it expects GAAP net revenue to be approximately $500 million, Non-GAAP net revenue to be approximately $500 million, GAAP diluted earnings per share to be approximately $0.40-$0.48 and Non-GAAP loss per share is expected to be approximately ($0.45)-($0.40). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.493 billion and EPS of $1.12 for fiscal 2013; revenue of $579 million and EPS of $(0.33) for first quarter of 2013.
The stock has a market capitalization of $297.35M and is currently trading at $4.61 with a 52-week range of $1.80-$5.90. The stock's year-to-date performance has been 46.82%. It is currently trading above 200 SMA, but below 20 and 50 SMA.
Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.