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Glu Mobile Gains On Q4 Beat, Signs Katy Perry

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Glu Mobile Inc. (NASDAQ: GLUU) 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 recently at $4.40, up 14.6 percent.

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 halftime show, follows Kim Kardashian among celebrities featured by Glu games.

Separately, Glu posted fourth-quarter adjusted earnings of $0.11 a share on adjusted revenue of $76.2 million.

Wall Street expected adjusted earnings of $0.02 a share, on revenue of $63.8 million.

Net income rose to $1.4 million, or $0.01 a share, from a year-earlier loss of $3.5 million, or $0.05 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 and $0.03 a share, on revenue of $50 million to $52 million.

Analysts expect earnings of $0.03 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 a share on revenue of $229.31 million.

Posted-In: Katy PerryEarnings News Guidance Contracts After-Hours Center

 

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