Earnings: Glu Mobile, Revenue up 94 Percent, Loss Falls

Glu Mobile (NASDAQ:GLUU) has repoorted its first quarter earnings for the three months ending March 31, its first report since going public. It reports that its revenue increased 94 percent year-on-year to $15.7 million, with its net loss coming in at $764,000 — a sharp reduction from the $3.5 million Glu lost in the first quarter of 2006. Glu’s revenue was helped by its acquitision of iFone last year.

Glu’s top ten titles represented approximately 57 percent of revenue in the first quarter of 2007, which was down slightly from 58 percent of revenue in the first quarter a year ago. The average revenue per top ten title was $890,000, an increase of 89 percent compared to $472,000 in the first quarter of last year.

Earnings release

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