Taylor Swift Helps Shake Glu Mobile Stock Up 30%
Glu Mobile will collaborate with the Grammy award-winning popstar to develop a "one-of-a-kind digital gaming experience." The company added that it will provide further details of the game at a later date but confirmed it will be released this year.
"Bringing with her over 227 million social followers, I am thrilled to welcome Taylor Swift, an award-winning singer, musician and songwriter, to Glu's family," said Niccolo de Masi, Glu Chairman and CEO. "We realize that Taylor and her global fan base expect a new and highly differentiated mobile gaming experience," continued de Masi. "Glu is equally committed to designing never before seen gameplay elements that utilize Taylor's unique creativity. Accordingly, we will spend the required development time to ensure this innovation is achieved."
Glu Mobile also has a highly-successful game with Kim Kardashian.
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Reported Better-Than-Expected Q4 Results
Glu Mobile also reported its fourth quarter results on Wednesday. The company earned $0.02 per share on revenue of $61 million.
Wall Street analysts were expecting the company to lose $0.03 per share on revenue of $50.5 million.
Operating loss for the quarter totaled $3.1 million compared to an income of $5.1 million in the same quarter a year ago.
"Our ability to exceed revenue and EBITDA expectations in Q4 was driven by the ongoing traction of our catalog titles, including the continued solid performance of Kim Kardashian: Hollywood, Cooking Dash 2016, Racing Rivals and Deer Hunter 2016," stated Niccolo de Masi, Chairman and Chief Executive Officer of Glu. "During the quarter we hired new studio leadership, with Tim Wilson joining as our Global CTO and Nick Earl as our President of Global Studios. Nick and Tim have hit the ground running and have already begun evolving our global studios. We anticipate that our global studio improvements will significantly enhance Glu's product delivery on a go forward basis."
The stock trade recently at $2.50, up 24.4. percent.
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