Glu Mobile (GLUU - Free Report) reported second-quarter 2018 loss of 3 cents per share, narrower than a loss of 17 cents in the year-ago quarter.
The Zacks Consensus Estimate was pegged at earnings of 5 cents per share.
Revenues came in at $90.2 million compared with $68.7 million in the year-ago quarter.
Net bookings came in at $99.4 million, up 20.5% year over year, primarily driven by strength in Design Home, Tap Sports Baseball, and Covet Fashion.
Glu’s growth games portfolio, which includes Design Home, Tap Sports Baseball franchise and Covet Fashion, contributed 76% of the total bookings, up 26.6% from the year-ago period.
In the reported quarter, Design Home recorded bookings of $38.2 million, up 70% year over year driven by strong in-game purchases and new users.
Tap Sports Baseball (TSB) franchise witnessed record bookings of $24.4 million, up 48% from the year-ago quarter.
Covet Fashion bookings grew 21% year over year to $13 million.
Glu’s evergreen game (22% of total bookings) Kim Kardashian: Hollywood recorded 7.8 million bookings in the reported quarter. However, contribution from legacy game portfolio remained minimal at 2% of total bookings.
The company’s advertisement revenues (13.1% of total revenues) came in at $13 million on the back of ads placed in TSB’18.
Revenues from North America region (84% of total net bookings) continued to contribute significantly, delivering $83 million net bookings in the reported quarter.
In-app purchases remained the main driver of net bookings with 87% of total net bookings in the reported quarter.
Glu Mobile Inc. Price, Consensus and EPS Surprise