Glu Mobile Inc.Gans On Q4 Beat; Signs Katy Perry

Glu Mobile Inc.

shares climbed more than 14 percent after the company beat fourth-quarter expectations and said it will develop a new game featuring the pop singer Katy Perry. The San Francisco-based mobile game developer, which also forecast lower-than-expected first-quarter results, changed hands after hours recently at $4.36, up $0.52 cents. Chief Executive Niccolo de Masi said Perry's fans on social media number more than 170 million and "will make her a strong gaming partner" for Glu. Perry, who recently performed at a Super Bowl half-time show, follows Kim Kardashian among celebrities featured by Glu games. Separately, Glu posted fourth-quarter adjusted earnings of $0.11 cents a share on adjusted revenue of $76.2 million. Wall Street expected adjusted earnings of $0.02 cents a share, on revenue of $63.8 million. Net income rose to $1.4 million, or $0.01 cent a share, from a year-earlier loss of $3.5 million, or $0.05 cents a share. Net revenue revenue increased to $72.9 million from $34.8 million last year. The company forecast a first-quarter loss between $0.01 cent and $0.03 cents a share, on revenue of $50 million to $52 million. Analysts expect earnings of $0.3 cents a share, on revenue of $58 million. Adjusted earnings for the full year are now seen by Glu at between $0.23 and $0.28 a share, on revenue of $245 million to $275 million. Wall Street predicts 2015 adjusted earnings of $0.24 cents a share on revenue of $229.31 million.