Glu Mobile now -12.9% AH, investors sell on the news

|About: Glu Mobile Inc. (GLUU)|By:, SA News Editor

Is the deer already in the bag? With shares having risen nearly 80% from their mid-September lows thanks to enthusiasm about the strong performance of Deer Hunter 2014, Glu Mobile (GLUU) is now selling off AH in spite of beating Q3 estimates and issuing above-consensus Q4 guidance.

Glu has also issued a preliminary 2014 revenue growth forecast of 15%-20% (based on Glu's new 2013 revenue guidance, the consensus is around 13%), but cautions its numbers could easily change.

Glu's gross profit, which backs out Apple/Google's 30% cuts and other expenses, fell 21% Y/Y in Q3; that compares with a 13% Y/Y revenue drop.

"Freemium" revenue (in-app purchases, ads, etc.) accounted for 94% of Glu's smartphone-related Q3 revenue. Deer Hunter 2014 is said to have broken Glu's daily revenue and daily active user records.

Q3 results, PR