GLUU - This Hot Growth Stock Is on Fire Once Again
It was only a matter of time before Glu Mobile (NASDAQ: GLUU) stock regained its mojo after disappointing investors with a mixed set of results back in August, and the mobile gaming specialist didn't disappoint -- it recently shot higher after releasing its third-quarter earnings.
Glu Mobile's quarterly numbers blew past estimates as revenue shot up 48% year over year to $158.5 million. This helped Glu post a net income of $13.4 million for the quarter, compared to a loss of $5.1 million in the prior-year period. The huge increase in the company's revenue can be attributed to the sharp jump in bookings it recorded in the second quarter thanks to the success of its new games. Those bookings are now translating into top-line growth for Glu Mobile, while also giving the bottom line a nice shot in the arm.
More importantly, Glu's outlook suggests that it could sustain its momentum and remain a top growth stock .
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This Hot Growth Stock Is on Fire Once Again