Glu Lowers Q3 Revenue Expectations On Lower Consumer Spending

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imageGlu Mobile (NSDQ: GLUU) said revenues in Q3 will be slightly below the company’s previous guidance, and that it will report a “small non-GAAP operating loss,” citing slower consumer spending, unrealized foreign exchange losses, and possible impairments to goodwill and prepaid royalties. Today, the company’s stock fell about 7.5 percent or 15 cents to $1.85 a share. The company will release Q3 results Nov. 4.

CEO Greg Ballard explained:

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kimbjo

I'm not sure why nobody is mentioning or noting the fact that all the north american market is now full of 'free ad sponsored games' aka. all hte scam artists giving out free ripped off games in a desperate effort to make money on google ads and admob ads.

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