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Wednesday, Jul 3
Glu Mobile (GLUU +10.3%) jumps after SA contributor Natty Greene observes Glu's Chinese sales...
Glu Mobile (GLUU +10.3%) jumps after SA contributor Natty Greene observes Glu's Chinese sales are taking off, and suggest the company's Q2 revenue guidance of $17M "is going to be extremely conservative." Greene notes Glu has 4 games in App Annie's list of the top 100 grossing Chinese iOS games, including 3 in the top 30, and that both Chinese smartphone sales and gaming activity are taking off - Analysys expects the Chinese mobile gaming market to be worth $1.5B in 2013, and to host 336M gamers by 2015. Greene is also pleased with Glu's strong insider buying activity, and efforts to bring 3rd-party Chinese games to Western audiences.