Glu Mobile and Activision Blizzard released their latest earnings after closing bell tonight. Glu Mobile posted losses of 33 cents per share or $43.7 million on $51.4 million in revenue, compared to the consensus estimates of 9 cents per share in losses and $50.9 million in revenue. In last year’s third quarter, the game maker had net income of $158,000 and was breakeven on a per-share basis.
Activision Blizzard posted earnings of 49 cents per share on $1.57 billion in sales, compared to the consensus estimates of 42 cents per share in adjusted earnings and $1.57 billion in adjusted revenue. In the same quarter a year ago, the game maker reported adjusted earnings of 21 cents per share on $990 million in revenue. Activision had guided for GAAP revenue of about $1.49 billion and non-GAAP earnings of about 39 cents per share.
Glu Mobile shares rise
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Glu Mobile’s bookings declined to $51.3 million from $64.4 million last year. The game maker’s gross margin was -9%, down from 53% in the same quarter a year ago.
For the fourth quarter, Glu Mobile expects bookings of $46 million to $48 million and an adjusted gross margin of about 64.6%. For the full year, the company expects bookings between $202.2 million and $204.2 million.
The company also announced that current CEO Niccolo de Masi will become its executive chairman while former Electronic Arts executive Nick Earl will become CEO.Glu Mobile also said it has acquired a controlling interest in Crowdstar, the maker of the popular game Covet Fashion.
Shares of Glu jumped by as much as 3.61% to $2.01 in after-hours trades.
Activision Blizzard shares fall
Activision Blizzard’s GAAP earnings came in at 26 cents per share, up from 17 cents per share last year, while GAAP digital revenues jumped more than 114% to more than $1.3 billion. The game maker had guided for GAAP earnings of about 6 cents per share. It had 482 million monthly active users during the quarter.
Activision also raised its full-year outlook for revenue and earnings per share. It now expects $6.45 billion in full-year net revenues and GAAP earnings of 98 cents per share for the year. It looks for non-GAAP earnings of $1.92 per share. For the fourth quarter, the game maker expects $1.856 billion in revenue, GAAP earnings of 5 cents per share and non-GAAP earnings of 40 cents per share.
Shares of Activision Blizzard fell by as much as 3.39% to $41.90 in after-hours trades.